OREANDA-NEWS. OJSC “Magnit”, Russia’s largest retailer (the “Company”; MICEX and LSE: MGNT), is pleased to announce the opening of the 30th “Magnit Family” store.

Please be informed that on July 21, 2013 the Company has opened its 30th “Magnit Family” store located at 31/11 Moskatova street, Taganrog, Rostov region, Southern federal district. Assortment of the store consists of about 5,000 SKUs, out of which about 81% are food items. There are 12 cash desks installed in the sales area. The outlet is leased by the Company. The store is open 7 days a week from 9 am to 11 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 June 30, 2013, Magnit operates 18 distribution centers and over 7,000 stores (6,552 convenience, 164 hypermarkets, and 700 cosmetics) in more than 1,700 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.