OREANDA-NEWS. OJSC “Magnit”, Russia largest retailer (the “Company”, MICEX and LSE:

MGNT), is pleased to announce the opening of the first store above the Arctic Circle.

The Company opened its first convenience store above the Arctic Circle at the following address: 25 Kandalakshaskoe shosse, Kandalaksha, Murmansk region. Population of this town is about 35 700 inhabitants. The total space of the store is 714 sq. m. and its selling space is 469 sq. m. The outlet is leased by the Company.

Kandalaksha is 1 469 km far from Moscow and 3 016 km far from Krasnodar.

Headquartered in the southern Russia city of Krasnodar, 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 the largest food retail network in Russia. As of March 31, 2013 the chain consisted of 6,209 convenience stores, 132 hypermarkets, 21 “Magnit Family” stores and 713 cosmetics stores (drogerie) in 1,647 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 March 31, 2013 Magnit operated an in-house logistics system consisting of 18 distribution centers, employing automated stock replenishment systems and a fleet of 4,448 vehicles.

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