OREANDA-NEWS. OJSC “Magnit” (the “Company”; MICEX and LSE: MGNT) provides further clarification to the February 2013 results press-release

After the publication of Magnit's 2013 February results, we received some calls from analysts and investors and therefore, we would like to provi de some further cl arifi cati on.

It should be noted that the month of February 2012 was in a leap year and thus, had 29 days (i.e. an extra day). February 2013 was a normal year and thus, there were 28 days. Therefore, the 37.48% sales growth in February 2012 was based on a month with 29 days and in order to fairly compare it with February 2011 (a normal month with 28 days) an amount of 3.6% should be subtracted from 2012, which would equal 33.88%. To compare the results of February 2013 with February 2012 correctly, an amount of 3.6% should be added to February 2013, which would equal 29.5%

Headquartered in the southern Russia city of Krasnodar, Magnit (LSE and MICEX: MGNT) 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 December 31, 2012 the chain consisted of 6,046 convenience stores, 126 hypermarkets, 20 “Magnit Family” stores and 692 cosmetics stores (drogerie) i n 1,605 cities and towns throughout the Russian Federation.

Approximately two-thirds of the Magnit’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 December 31, 2012 Magnit operated an in-house logistics system consisting of 18 distribution centers, employing automated stock replenishment systems and a fleet of 4,401 vehicles.

In accordance with the unaudited IFRS management accounts for 2012, Magnit recorded consolidated revenues of approximately USD 14,430 million USD and a consolidated EBITDA of USD 1,524 million USD.