OREANDA-NEWS. September 5, 2012. OJSC “Magnit” (the “Company”; MICEX and LSE: MGNT) is pleased to announce personnel appointments.

Dear Ladies and Gentlemen!

We would like to inform you that Oleg Goncharov, Director of Investor Relations, was appointed to the position of a Deputy CEO for HR. The position of IR Director was assigned to Timothy Post. The appointments are effective from February 1, 2013.

Magnit CEO Sergey Galitskiy commented:

“Within the last 18 months we were introducing significant changes which affected planned rotation of the top management of the Company. More than ten top managers of the Company were replaced. We made these changes because some executives did not correspond to the new scale of the Company; their management potential, ambitions, aggression could not support our growth. I hope the renewal of the team has been completed and there will not be any significant changes in the management in the next 2-3 years. I think that potential of the new managers will lead the Company in the future”.

For you reference:

Within the last 18 months the Company introduced the following appointments:

Deputy CEO for logistics Deputy CEO for security Director for warehousing logistics Director for transportation Director for outbound logistics Director for marketing

Director for sales of "convenience store" format Director for sales of "hypermarket" format Director for development of "cosmetics store" format

Director for technologies of purchasing

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 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.