OREANDA-NEWS. OJSC “Magnit”, Russia's largest retailer (the “Company”; MICEX and LSE: MGNT), is pleased to announce the opening of the 149th hypermarket of a small format.

Please be informed that on October 12, 2013 the Company has opened its 149th hypermarket of a small format located at 35 Vorovskogo street (“Krasnaya Ploshchad” shopping center), Armavir, Krasnodar region, Southern federal district. Assortment of the hypermarket consists of more than 9,100 SKUs, out of which about 72% are food items. There are 19 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 September 30, 2013, Magnit operates 19 distribution centers and over 7,600 stores (6,783 convenience, 178 hypermarkets, and 685 cosmetics) in more than 1,760 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the reviewed IFRS consolidated financial statements for 1H 2013, Magnit had revenues of USD 8,796 million USD and an EBITDA of USD 890 million 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.