OREANDA-NEWS. PJSC "Magnit", Russia's largest food retailer (the "Company"; MICEX and LSE: MGNT), is pleased to announce the opening of the 70th "Magnit Family" store.

Please be informed that today the Company has opened its 70th "Magnit Family" store located at 70/2, Sovetskaya street, Rtishchevo, Saratov oblast, Volga federal region. Assortment of the store consists of about 7,100 SKUs, out of which about 86% are food items. There are 13 cash desks installed in the sales area. The outlet is owned by the Company. The store is open 7 days a week from 9 am to 10 pm.

Magnit is Russia's largest food retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of September 30, 2014, Magnit operated 25 distribution centers and over 9,020 stores (7,891 convenience, 243 hypermarkets, and 886 drogeries) in approximately 2,000 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the reviewed IFRS consolidated financial statements for 1H 2014, Magnit had revenues of USD 9,979 million USD and an EBITDA of USD 1,045 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 one of the largest retailers in Europe.