OREANDA-NEWS. September 14, 2012. OJSC "Magnit"(the "Company”; MICEX and LSE: MGNT) publishes a statement re recent press comments.

A claim has been filed to declare JSC "Tander"(main operating company of OJSC "Magnit”) insolvent (bankrupt), case № A-32-26325/2012 (the Company has not received a copy of the claim yet).

The Company finds it necessary to clarify the following regarding the merits of the filed claim:

Based on the Decision of the Court of Arbitration of the Krasnodar Region as of 16.05.2012 (finalized on 25.05.2012, effective from 25.06.2012) within the framework of the case № A32-40099/2011 with JSC "Tander" 224 427 (two hundred and twenty four thousand four hundred and twenty seven) rubles 60 kopecks were rewarded to LLC "Excavation" (12 Magistralnaya street, Pereyaslavl-Zalessky, Yaroslavl region, 152020, Taxpayer Id. Number 7622009643).

LLC "Excavation" received an order of enforcement. However, to the knowledge of JSC "Tander" enforcement proceedings were not initiated.

Mikhail Chirukhin, Director of the Legal Department (JSC "Tander”) commented:

"We came across inequitable conduct of our procedural opponent. We assume that the Claim was filed solely with the intent to inflict harm to the business reputation of JSC "Tander”. There are no indicators of JSC "Tander" insolvency .The three-month period of obligation default has not expired. The debt has been paid in-full”.

An appeal session of the Court of Arbitration of the Krasnodar Region related to the case № A-32- 26325/2012 will take place on October 4, 2012 where the facts of evidence will be studied and the proceeding will be terminated.

For the first half of 2012 the net profit of JSC "Tander" amounted to 7,062.44 million rubles.