OJSC MAGNIT - 55th "Magnit Family" Store Opening

Press-release

Krasnodar

June 23, 2014

OJSC "Magnit" Announces the Opening of the 55th "Magnit Family" Store

Krasnodar, June 23, 2014: OJSC "Magnit", Russia's largest food retailer (the
"Company"; MICEX and LSE: MGNT), is pleased to announce the opening of the 55th
"Magnit Family" store.

Please be informed that today the Company has opened its 55th "Magnit Family"
store located at 11, Chistopolskaya street, Kazan, Republic of Tatarstan, Volga
federal district. Assortment of the store consists of about 9,900 SKUs, out of
which about 90% are food items. There are 13 cash desks installed in the sales
area. The outlet is leased by the Company. The hypermarket is open 7 days a
week from 9 am to 11 pm.

For further information, please contact:

Timothy Post                            Director, Investor Relations
                                        Email: [e-mail]
                                        Office: [phone] x 17600
                                        Mobile: [phone]
                                        Direct Line: [phone]

Dina Svishcheva                         Deputy Director, Investor Relations
                                        Email: [e-mail]
                                        Office: [phone] x 15101
                                        Mobile: [phone]
                                        Direct Line: [phone]

Company description:

Magnit is Russia's largest food retailer. Founded in 1994, the company is
headquartered in the southern Russian city of Krasnodar. As of March 31, 2014,
Magnit operated 23 distribution centers and over 8,200 stores (7,341
convenience, 215 hypermarkets, and 700 cosmetics) in more than 1,905 cities and
towns throughout 7 federal regions of the Russian Federation.

In accordance with the audited IFRS consolidated financial statements for 2013,
Magnit had revenues of $18,202 million USD and an EBITDA of $2,032 million USD.
Magnit's local shares are traded on the Moscow Stock Exchange (MICEX: MGNT) and
its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating
from Standard & Poor's of BB. Measured by market capitalization, Magnit is one
of the largest retailers in Europe.

Copyright e 23 PR Newswire