OJSC MAGNIT - Audited FY2013 IFRS Results Publication Date

Press-release

Krasnodar

March 17, 2014

OJSC "Magnit" Announces the Publication Date of Audited FY2013 Financial Results
Prepared in accordance with the IFRS

Krasnodar, March 17, 2014: OJSC "Magnit", Russia's largest retailer (the
"Company"; MICEX and LSE: MGNT), is pleased to announce the publication date of
audited FY 2013 financial results prepared in accordance with the IFRS.

Please be informed that OJSC "Magnit" plans to release its audited FY 2013
financial results prepared in accordance with the IFRS on Monday, March 24,
2014.

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 retailer. Founded in 1994, the company is
headquartered in the southern Russian city of Krasnodar. As of December 31,
2013, Magnit operated 22 distribution centers and over 8,000 stores (7,200
convenience, 207 hypermarkets, and 686 cosmetics) in more than 1,868 cities and
towns throughout 7 federal regions of the Russian Federation.

In accordance with the unaudited IFRS management accounts 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 now
Europe's 2nd largest retailer.

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