Krasnodar July 28, 2010: OJSC “Magnit” net profit for the 1^st quarter of 2010 amounted to 56,287 thousand rubles vs. 197,108 thousand rubles for the 2^nd quarter of 2010. The significant increase of net profit by 250.18% is due to the expenses in the 1Q related to the OJSC “Magnit” shares’ placement, as well as the expenses for auditing services, while there were no such expenses in 2Q.

Date of fact occurence: July 28, 2010

OJSC “Magnit” net profit in 1Q 2010: 56,287 thousand rubles

OJSC “Magnit” net profit in 2Q 2010: 197,108 thousand rubles

Absolute change of the Issuer’s net profit amount: 140,821 thousand rubles

Relative change of the Issuer’s net profit amount:250.18%

OJSC “Magnit” announces change of net profit amount (RAS, standalone basis)