OREANDA-NEWS. August 31, 2012. OJSC “Magnit” (the “Company”; MICEX and LSE: MGNT) announces change of share in the charter capital of OJSC “ Magnit" (ordi nary shares stake) owned by Khachatur Pombukhchan, the chairman of the Board of OJSC “ Magnit” di rectors, from 0.0072% to 0%.

Name and position of the person:

Khachatur Pombukhchan, the chairman of the Board of OJSC “Magnit” directors

Company:

Open joint-stock company “Magnit”, 15/5, Solnechnaya street, Krasnodar, Russia

Share i n charter capital before change:

00072%

Ordi nary shares stake before change:

00072%

Share i n charter capital after change:

0%

Ordi nary shares stake after change:

0%

Date of change of share i n the charter capital

August 21, 2012

Date of the fact bei ng reported:

August 24, 2012

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 March 31, 2012 the chain consisted of 5,104 convenience stores, 91 hypermarkets, 5 “Magnit Family” stores and 266 cosmetics stores (drogerie) in 1,424 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 M arch 31, 2012 the Company operated an i n-house logistics system consisting of 15 distribution centers, employing automated stock replenishment systems and a fleet of 3,922 vehicles.

In accordance with the reviewed IFRS consolidated financial statements for 1H 2012, the Company recorded consolidated revenue of approximately USD 6,776 million and consolidated EBITDA of around USD 671 million.