Magnit

Capital/Financing Update • Jan 29, 2014

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OJSC MAGNIT - Greenhouse Complex Expansion

PR Newswire

London, January 29

Press-releaseKrasnodarJanuary 29, 2014OJSC "Magnit" Announces the Expansion of its Greenhouse ComplexKrasnodar, January 29, 2014: OJSC "Magnit", Russia's largest retailer (the"Company"; MICEX and LSE: MGNT) announces the expansion of its greenhousecomplex.Please be informed that "Magnit" has begun construction on the expansion of its"TK Zelyonaya Liniya" (Green Line) greenhouse complex, which is located in thevillage of Plastunovskaya in the region of Krasnodar Kray. In 2014, Magnitplans to add an additional 40 hectares (99 acres) of greenhouses, which will becomprised of 2 structures of 20 hectares each. The 1st block will beoperational in the Autumn of 2014 with the 2nd block coming on-line in thebeginning of 2015. It is expected that the CapEx for the additional 40 hectareswill be approximately 3.6 billion Rubles ($104 million USD).As of the end of 2013, "TK Zelyonaya Liniya" (Green Line) operated 43 hectares,comprised of 40 hectares of greenhouses (8 structures of 5 hectares each) and 3hectares of seedling hotbeds. The vegetables currently grown in the greenhousesare cucumbers, tomatoes, greens (lettuce, dill, parsley), and cherry tomatoes.Please see the photo below for a birds-eye view of the "TK Zelyonaya Liniya"greenhouse complex. The photo was taken on January 18th, 2014.For further information, please contact:Timothy Post Director, Investor Relations Email: post@gw.tander.ru Office: +7-861-277-4554 x7600 Mobile: +7-961-511-7678 Direct Line: +7-861-277-4562Dina Svishcheva Deputy Director, Investor Relations Email: Chistyak@gw.tander.ru Office: +7-861-277-45-54 x5101 Mobile: +7-961-511-0202 Direct Line: +7-861-277-4562Company description:Magnit is Russia's largest retailer. Founded in 1994, the company isheadquartered in the southern Russian city of Krasnodar. As of December 31,2013, Magnit operated 22 distribution centers and over 8,000 stores (7,200convenience, 207 hypermarkets, and 686 cosmetics) in more than 1,868 cities andtowns throughout 7 federal regions of the Russian Federation.In accordance with the unaudited IFRS management accounts for 2013, Magnit hadrevenues of $18,202 million USD and an EBITDA of $2,032 million USD. Magnit'slocal shares are traded on the Moscow Stock Exchange (MICEX: MGNT) and its GDRson the London Stock Exchange (LSE: MGNT) and it has a credit rating fromStandard & Poor's of BB. Measured by market capitalization, Magnit is nowEurope's 2nd largest retailer.