OREANDA-NEWS. OJSC “Magnit”, Russia's largest retailer (the “Company”; MICEX and LSE: MGNT), is pleased to announce the opening of the 48th “Magnit Family” store.

Please be informed that on February 28, 2014 the Company has opened its 48th “Magnit Family” store located at 38, 6th neighborhood unit (“Eurasia” shopping center), Tobolsk, Tyumen region, Urals federal district. Assortment of the store consists of more than 5,300 SKUs, out of which about 86% are food items. There are 13 cash desks installed in the sales area. The outlet is leased by the Company. The hypermarket is open 7 days a week from 9 am to 11 pm.

Magnit is Russia's largest retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of December 31, 2013, Magnit operated 22 distribution centers and over 8,000 stores (7,200 convenience, 207 hypermarkets, and 686 cosmetics) in more than 1,868 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the unaudited IFRS management accounts for 2013, Magnit had revenues of USD 18,202 million USD and an EBITDA of USD 2,032 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.