PJSC MAGNIT - February and 2M 2015 Results

Press-release

Krasnodar

March 10, 2015

PJSC "Magnit" Announces 34.01% Retail Sales Growth in Rubles for
February 2015[1]

Krasnodar, March 10, 2015: PJSC "Magnit", Russia's largest food
retailer (the "Company"; MOEX and LSE: MGNT) announces 34.01% retail sales
growth in rubles for February 2015.

During February 2015 the Company opened (net) 145 stores. The total
store base reached 9,933 stores (8,479 convenience stores, 193 hypermarkets,
98 "Magnit Family" stores and 1,163 drogerie stores).

Preliminary consolidated unaudited net retail revenue (excl. VAT)
in 2M 2015 increased by 34.66% in ruble terms (compared to 2M 2014) and stood
at 140,237.04 million rubles.

According to Rosstat food inflation in February 2015 amounted to
3.3% compared to 1.2% in February 2014, in 2M 2015 - 9.1% compared to 2.2% in
2M 2014.

February and 2M 2015 Key Operating and Financial Highlights:

              February  February   Growth    2М 2015    2М 2014   Growth
                  2015      2014     Rate                           Rate
Number of          145        78      n/a        222        114      n/a
opened
stores, NET
 convenience        91        62      n/a        135         96      n/a
      stores
hypermarkets         3         1      n/a          3          1      n/a
      magnit         1         2      n/a          1          2      n/a
      family
    drogerie        50        13      n/a         83         15      n/a
      stores

Total number     9,933     8,207      n/a      9,933      8,207      n/a
of stores
 convenience     8,479     7,296      n/a      8,479      7,296      n/a
      stores
hypermarkets       193       162      n/a        193        162      n/a
      magnit        98        48      n/a         98         48      n/a
      family
    drogerie     1,163       701      n/a      1,163        701      n/a
      stores

Selling       3,667.17  3,044.07   20.47%   3,667.17   3,044.07   20.47%
space, eop,
th. sq. m.
 convenience  2,719.42  2,337.10   16.36%   2,719.42   2,337.10   16.36%
      stores
hypermarkets    570.51    484.85   17.67%     570.51     484.85   17.67%
      magnit    109.86     55.62   97.54%     109.86      55.62   97.54%
      family
    drogerie    267.38    166.51   60.58%     267.38     166.51   60.58%
      stores

Selling          55.21     24.52      n/a      76.53      32.70      n/a
space
growth, th.
sq.m.
 convenience     32.03     17.36      n/a      46.11      24.91      n/a
      stores
hypermarkets     11.42      1.97      n/a      11.42       1.97      n/a
      magnit      0.79      2.36      n/a       0.79       2.36      n/a
      family
    drogerie     10.97      2.84      n/a      18.21       3.47      n/a
      stores

Net retail   70,318.28 52,473.10   34.01% 140,237.04 104,138.56   34.66%
sales,
million RUR
 convenience 52,224.67 40,281.40   29.65% 104,767.88  80,365.36   30.36%
      stores
hypermarkets 12,496.17  9,469.06   31.97%  24,715.07  18,544.72   33.27%
      magnit  3,116.23  1,407.01  121.48%   6,151.75   2,749.41  123.75%
      family
    drogerie  2,481.21  1,315.62   88.60%   4,602.34   2,479.07   85.65%
      stores

Net retail    1,087.12  1,489.61 (27.02)%   2,218.62   3,036.07 (26.92)%
sales,
million
US$[2]
 convenience    807.39  1,143.51 (29.39)%   1,657.48   2,342.98 (29.26)%
      stores
hypermarkets    193.19    268.81 (28.13)%     391.01     540.65 (27.68)%
      magnit     48.18     39.94   20.62%      97.32      80.16   21.42%
      family
    drogerie     38.36     37.35    2.71%      72.81      72.27    0.74%
      stores

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
December 31, 2014, Magnit operated 27 distribution centers and over 9,700
stores (8,344 convenience, 287 hypermarkets, and 1,080 drogerie stores) in
approximately 2,100 cities and towns throughout 7 federal regions of the
Russian Federation.

In accordance with the unaudited IFRS management accounts for 2014,
Magnit had revenues of RUB 764 billion and an EBITDA of RUB 86 billion.
Magnit's local shares are traded on the Moscow Stock Exchange (MOEX: 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.

---------------------------------

[1] According to management accounts

[2] Based on the average exchange rate for February 2015 - 64.6833
RUB per 1 USD, February 2014 - 35.2260 RUB per 1 USD, 2M 2015 - 63.2090 RUB
per 1 USD, 2M 2014 - 34.3005 RUB per 1 USD

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