Press-release Krasnodar August 1, 2014

OJSC "Magnit" Announces the Change of Share of the Entity under the Issuer's Control

Krasnodar, August 1, 2014: OJSC "Magnit", Russia's largest food retailer (the "Company", the "Issuer", MICEX and LSE: MGNT), announces the change of share of the entity which is under the Issuer's control.

Full company name and address: joint-stock company "Tander"

185, Levanevskogo street, Krasnodar, Russia

Taxpayer Id Number: 2310031475
Principal State Registration Number: 1022301598549
Object of acquisition: voting shares of the Issuer
July 31, 2014 Acquisition of shares
Amount of acquired shares: 8,500 shares (0.008989% of the total equity)
Basis for acquisition: Sale and Purchase Agreements executed in the trading of MICEX Stock Exchange
Amount of votes before acquisition: 263,483 votes (0.278637% of the total number of votes)
Amount of votes after acquisition: 271,983 votes (0.287626% of the total number of votes)
July 31, 2014 Disposal of shares
Amount of disposed shares: 5,848 shares (0.006184% of the total equity)
Basis for disposal: Sale and Purchase Agreements executed in the trading of MICEX Stock Exchange
Amount of votes before disposal: 271,983 votes (0.287626% of the total number of votes)
Amount of votes after disposal: 266,135 votes (0.281442% of the total number of votes)

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: +7-861-277-4562
Dina Svishcheva Deputy Director, Investor Relations
Email: Chistyak@magnit.ru
Office: +7-861-277-45-54 x 15101
Mobile: +7-961-511-0202
Direct Line: +7-861-277-4562

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 drogeries) 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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