OJSC MAGNIT - Unaudited 1H 2014 Financial Results

Press-release

Krasnodar

July 9, 2014

OJSC "Magnit" Announces the Publication Date of Unaudited 1H 2014 Financial Results Prepared in accordance with the IFRS

Krasnodar, July 9, 2014: OJSC "Magnit", Russia's largest retailer (the
"Company"; MICEX and LSE: MGNT), is pleased to announce the publication date of
unaudited 1H 2014 financial results prepared in accordance with the IFRS.

Please be informed that OJSC "Magnit" plans to release its unaudited 1H 2014
financial results prepared in accordance with the IFRS and based on management
accounts on Wednesday, July 23, 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 food retailer. Founded in 1994, the company is
headquartered in the southern Russian city of Krasnodar. As of June 30, 2014,
Magnit operated 24 distribution centers and over 8,600 stores (7,614
convenience, 226 hypermarkets, and 778 cosmetics) in approximately 2,000 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.

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