PJSC MAGNIT - Upgrade of the Rating by S&P

Press-release
Krasnodar
April 13, 2015

PJSC "Magnit" Announces the Upgrade of its Rating to "BB+" by S&P on Improved
Cash Flow Generation

Krasnodar, April 13, 2015: PJSC "Magnit", Russia's largest retailer (the
"Company"; MOEX and LSE: MGNT) announces the upgrade of its rating to "BB+" by
Standard & Poor's Rating Services on improved cash flow generation.

Please be informed that Standard & Poor's Rating Services upgraded Magnit to
"BB+" with negative outlook on improved credit metrics and cash flow
generation, as well as robust earnings growth. The upgrade reflects S&P's
expectation that Magnit will maintain its sound operating performance, despite
tough economic conditions in Russia.

The negative outlook on Magnit reflects the negative outlook on the Russian
Federation. S&P might consider revising outlook to stable if they take a
similar action on Russia.

Please note that amongst the largest global food retailers in terms of
capitalization, PJSC "Magnit" is the only company, which has been assigned the
same credit rating as the sovereign rating.

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, 2015,
Magnit operated 28 distribution centers and over 10,000 stores (8,581
convenience, 300 hypermarkets, and 1,239 drogerie stores) in approximately
2,180 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the audited IFRS consolidated financial statements 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.

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