OREANDA-NEWS. OJSC “Magnit”, Russia’s largest retailer (the “Company”; MICEX and LSE: MGNT), is pleased to announce the opening of the 137th hypermarket of a small format.

Please be informed that the Company has opened its 137th hypermarket of a small format located at 2 Sochinskaya street, Tuapse, Krasnodar region, Southern federal district. Assortment of the hypermarket consists of about 5,300 SKUs, out of which about 83% are food items. There are 17 cash desks installed in the sales area. The outlet is owned by the Company. The hypermarket is open 7 days a week from 10 am to 10 pm.

Magnit is Russia's largest retailer. Founded in 1994 by Sergey Galitskiy, the company is headquartered in the southern Russian city of Krasnodar. As of March 31, 2013, Magnit operates 18 distribution centers and over 7,000 stores (6,209 convenience, 153 hypermarkets, and 713 cosmetics) in more than1,600 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with its audited IFRS consolidated financial statements for year-end 2012, Magnit had revenues of USD 14.43 billion USD and an EBITDA of USD 1.52 billion USD. Magnit's local shares are traded on the Moscow Stock Exchange (MICEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating from Standard & Poor's of BB. Measured by market capitalization, Magnit is now Europe's 2nd largest retailer.