Krasnodar, December 12, 2011: OJSC “Magnit” (the “Company”; RTS, MICEX and LSE: MGNT) is pleased to announce the change of location of the hypermarket in Krasnodar.

Dear Ladies and Gentlemen!

We are glad to inform you that on December 10th, 2011, “Magnit” hypermarket of a medium format located at 100 Dzerzhinskogo street, Krasnodar moved from the leased premises to the larger and owned premises within the opening of the third construction stage of “Krasnaya Ploschad” shopping mall at 34 Pokryshkina street. Assortment of the hypermarket consists of more than 13,200 SKUs, out of which about 68% are food items. There are 21 cash desks installed in the sales area. The hypermarket is open 7 days a week from 10 am to 10 pm (in December this year — to 11 pm).

OJSC “Magnit” announces the change of location of the hypermarket