OREANDA-NEWS. September 12, 2012. OJSC "Magnit"(the "Company”; MICEX and LSE: MGNT) announces the execution of the related party transaction by the Company on September 6, 2012.

The essentials of the transaction are as follows:

Type of transaction:

Related party transaction

Subject of transaction:

provision of guarantee under the Revolving Credit Line Agreement M 12083M0249018 dated 31st August, 2012 executed between JSC "Tander" and " ROSBANK"(OJSC JSCB)

Content of the transaction:

Under the Suretyship Agreement No.120831/0248980/S dated September 6, 2012 the Surety shall undertake to be gratuitously liable to the Creditor to the extent provided in this Agreement for the performance by the Borrower of obligations thereof under the Revolving Credit Line Agreement M 120831/0249018 dated 31st August, 2012 executed between the Borrower and the Creditor in Krasnodar with the following essentials:

• Loan Amount: 2,000,000,000 (two billion) rubles;

• Loan is provided for the period till 29.02.2016 inclusively;

• The Borrower shall pay the Creditor the interest rate for the loan use at the rate determined by the Revolving Credit Line Agreement but not exceeding 12% per annum;

• The suretyship does not secure the repayment of interest and penalties for overdue interest. The liability of the Surety shall be limited to the amount of 2,720,000,000.00 (Two billion seven hundred and twenty million) Russian Rubles,

• Suretyship terminates when the Borrower has duly performed its obligations under the Credit Agreement.

Deadline to fulfill obligations under the transaction:

February 29, 2016 (term of repayment of principal loan and interests)

Parties and beneficiaries of the transaction:

the Surety - open joint-stock company "Magnit"; the Creditor - " ROSBANK"(OJSC JSCB), the Borrower (the beneficiary) - joint-stock company "Tander"

Amount of the transaction:

2,720,000,000.00 rubles that amounts to 4.5282% from the issuer’s balance sheet assets

The value of the issler’s assets as of the last date of the accounting period (quarter, year) preceding the transaction (date of the contract) and in respect of which the term for submission of the accounting (financial) report expired:

60,067,654 thousand rubles

Date of transaction (date of the contract): Approval of the transaction:

September 6, 2012

the transaction was approved by the annual general shareholders’ meeting (minutes of the general shareholders’ meeting of OJSC " Magnit" M w/M of May 28, 2012)