OJSC MAGNIT - Execution of Related Party Transaction

Press-release

Krasnodar

March 4, 2014

OJSC "Magnit" Announces the Execution of the Related Party Transaction

Krasnodar, March 4, 2014: OJSC "Magnit", Russia's largest retailer (the
"Company", the "Issuer"; MICEX and LSE: MGNT), announces the execution of the
transactions on March 4, 2014.

The essentials of the transaction are as follows:

Type of transaction: Related party transaction

Subject of           Provision by the Issuer of the guarantee underthe A
transaction:         greement №29-15/1/415 on the opening of the revolving
                     credit lineas of March4, 2014, executed between JSC
                     "Tander" and Open joint-stock company "Sberbank of Russia"
                     (OJSC "Sberbank of Russia")

Content of the       In accordance with the guarantee agreement №29-15/1/415n 1
transaction:         as of March 4, 2014 the guarantor shall be solidarily liable
                     to the creditor for the fulfillment of obligations of the
                     borrower under the credit agreement executed on the
                     following terms:

                       * The creditline limit: 4,500,000,000 (fourbillion five
                         hundred million) rubles

                       * The granted term of the credit is until March 3, 2017
                         (inclusive)

                       * The borrower shall pay the interest on credit to the
                         creditor at the rate determined by the credit
                         agreement but not exceeding 12% per annum

Deadline for the     The term of validity of the guarantee- until March 3, 2020;
fulfillment of the   prior to the specified term the guarantee is terminated
obligation:          upon fulfillment of all obligations under the Credit
                     agreement by the Borrower, or upon fulfillment of
                     obligations under the Agreement by the Guarantor or to the
                     extent otherwise stipulated by the legislation of the
                     Russian Federation

Parties and          The creditor - open joint-stock company "Sberbank of
beneficiaries under  Russia" (OJSC "Sberbank of Russia")
transaction:
                     The guarantor - open joint-stock company "Magnit"

                     The borrower (beneficiary) -joint-stock company "Tander"

The Amount of the    6,120,000,000 (six billion one hundred and twenty million)
transaction in the   rubles which amounts to 8.94% of the balance sheet assets
monetary value and   of the issuer
as a % of the asset
value of the issuer:

Asset value of the   68,422,621 thousand rubles
issuer as of the
closing date of the
accounting period
preceding the
execution of the
transaction:

Date of the          March 4, 2014
transaction
execution:

Information on the   The transaction was approved by the general shareholders
approval of the      meeting of May 24, 2013 (Minutes of the general
transaction:         shareholders meetingof OJSC "Magnit" w/o No. of May 24,
                     2013)

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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