OREANDA-NEWS. July 24, 2012. . OJSC "Magnit" (the "Company"; MICEX and LSE: MGNT) is pleased to announce the opening of the 101st hypermarket of a small format. Dear Ladies and Gentlemen!

We are glad to inform you that the Company has opened its 101st hypermarket of a small format located at 1 Ibragimova street, Chistopol, Republic of Tatarstan. Assortment of the hypermarket consists of about 6,500 SKUs, out of which about 87% are food items. There are 15 cash desks installed in the sales area. The hypermarket is open 7 days a week from 8 am to 10 pm.

Based in Krasnodar, in the Southern region of Russia, Open Joint Stock Company "Magnit" (LSE and MICEX: MGNT, S&P: "BB-") is the holding company for a group of entities that operate in the retail trade under the "Magnit" brand. The chain of "Magnit" stores is one of the leading food retail networks in Russia. As of June 30, 2012 the chain consisted of 5,268 convenience stores, 98 hypermarkets, 5 "Magnit Family" stores and 351 cosmetics stores (drogerie) in 1,461 locations in the Russian Federation.

Approximately two-thirds of the Company's stores are located in cities with a population of less than 500,000 inhabitants. Most of its stores are located in the Southern, North-Caucasian, Central and Volga regions. The Company also operates stores in the North-Western, Urals and Siberian regions.

As of June 30, 2012 the Company operated an in-house logistics system consisting of 16 distribution centers, employing automated stock replenishment systems and a fleet of 4,070 vehicles.

In accordance with the audited IFRS consolidated financial statements for 2011, the Company recorded consolidated revenue of approximately US\\$ 11,423 million and consolidated EBITDA of around US\\$ 939 million.