Krasnodar, September 7, 2010: OJSC “Magnit” (the “Company”; RTS, MICEX and LSE: MGNT) is pleased to announce its preliminary August 2010 results¹.

During 8M 2010 the Company opened (net) 386 stores. The total store base reached 3,614 stores (3,582 convenience stores and 32 hypermarkets). Preliminary consolidated unaudited net retail revenue (excl. VAT) in 8M 2010 increased by 34% in ruble terms (compared to 8M 2009) and stood at 144,537 million rubles. Net retail sales in August 2010 increased by 41% vs. August 2009 and amounted to 20,784 million rubles.

¹ According to management accounts. Adjusted information will be provided on September 10, 2010.

OJSC «Magnit» announces preliminary August 2010 results