Magnit OAO : OJSC “Magnit” announces the disposal of shares by the entity under the issuer’s control

Press-release Krasnodar January 13, 2014

OJSC "Magnit" Announces the Disposal of Shares by the Entity under the Issuer's Control

Krasnodar, January 13, 2014: 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: January 10, 2014
Amount of disposed shares: 2,762 shares (0.002920% of the total equity)
Basis for disposal: Sale and Purchase Agreements executed in the trading of MICEX Stock Exchange; Sale and

Purchase Agreements (off-exchange)

Amount of votes before disposal: 20,126 votes (0.021283% of the total number of votes)
Amount of votes after disposal: 17,364 votes (0.018362% of the total number of votes)

For further information, please contact:

Timothy Post Director, Investor Relations Email: [e-mail]: [phone] x7600
Mobile: [phone]
Direct Line: [phone]
Dina Svishcheva Deputy Director, Investor Relations Email: [e-mail]: [phone] x5101
Mobile: [phone]
Direct Line: [phone]

Company description:

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 its reviewed IFRS consolidated financial statements, Magnit had 1H 2013 revenues of $8.7 billion USD and an EBITDA of $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.