OREANDA-NEWS. OJSC “Magnit”, Russia’s largest retailer (the “Company”, the “Issuer”, MICEX and LSE: MGNT), announces the disposal of shares by the entity which is under the Issuer’s control.

Full company name and address:

joint-stock company “Tander” 185, Levanevskogo street, Krasnodar, Russia

Taxpayer Id Number:

2310031475

Principal State Registration Number:

1022301598549

Object of disposal:

voting shares of the Issuer

Date of disposal:

October 31, 2013

Amount of disposed shares:

1,188 shares (0.001256% of the total equity)

Basis for disposal:

Securities Purchase Agreements executed in the trading of MICEX Stock Exchange

Amount of votes before disposal:

73,771 votes (0.078014% of the total number of votes)

Amount of votes after disposal:

72,583 votes (0.076758% of the total number of votes)

Magnit is Russia's largest retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of September 30, 2013, Magnit operated 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 its reviewed IFRS consolidated financial statements, Magnit had 1H 2013 revenues of USD 8.7 billion 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 food retailer.