Magnit

Business and Financial Review • Sep 9, 2014

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OJSC MAGNIT - Opening of a New Hypermarket and "Magnit Family" Stores

PR Newswire

London, September 9

Press-releaseKrasnodarSeptember 9, 2014OJSC "Magnit" Announcesthe Opening of a New Hypermarket and"Magnit Family" storesKrasnodar, September 9, 2014: OJSC "Magnit", Russia's largest retailer (the"Company"; MICEX and LSE: MGNT), is pleased to announce the opening of a newhypermarket and "Magnit Family" stores.Please be informed that today the Company has opened its 173rd hypermarket and63rd and 64th "Magnit Family" stores.The 173rd hypermarket (small format) is located at 146, Yaroslavskoe shosse("Hanoi-Moscow" shopping center), Moscow, Central federal region. Assortment ofthe hypermarket consists of about 11,900 SKUs, out of which about 79% are fooditems. There are 19 cash desks installed in the sales area. The outlet isleased by the Company. The hypermarket is open 7 days a week from 9 am to 11pm.The 63rd "Magnit Family" store is located at 75, Narimanova prospect ("DA"shopping center), Ulyanovsk, Volga federal region. Assortment of the storeconsists of about 9,700 SKUs, out of which about 85% are food items. There are13 cash desks installed in the sales area. The outlet is leased by the Company.The hypermarket is open 7 days a week from 9 am to 10 pm.The 64th "Magnit Family" store is located at 11, Sovetskaya street ("Krotbers"shopping center), Kasimov, Ryazan oblast, Central federal region. Assortment ofthe store consists of about 5,800 SKUs, out of which about 90% are food items.There are 13 cash desks installed in the sales area. The outlet is leased bythe Company. The hypermarket is open 7 days a week from 9 am to 10 pm.For further information, please contact:Timothy Post Director, Investor Relations Email: post@magnit.ru Office: +7-861-277-4554 x 17600 Mobile: +7-961-511-7678 Direct Line: +7-861-277-4562Dina Svishcheva Deputy Director, Investor Relations Email: Chistyak@magnit.ru Office: +7-861-277-45-54 x 15101 Mobile: +7-961-511-0202 Direct Line: +7-861-277-4562Company description:Magnit is Russia's largest food retailer. Founded in 1994, the company isheadquartered in the southern Russian city of Krasnodar. As of June 30, 2014,Magnit operated 24 distribution centers and over 8,600 stores (7,614convenience, 226 hypermarkets, and 778 drogeries) in approximately 2,000 citiesand towns throughout 7 federal regions of the Russian Federation.In accordance with the reviewed IFRS consolidated financial statements for 1H2014, Magnit had revenues of $9,979 million USD and an EBITDA of $1,045 millionUSD. 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 creditrating from Standard & Poor's of BB. Measured by market capitalization, Magnitis one of the largest retailers in Europe.