Krasnodar, April 22, 2011: OJSC “Magnit” (the “Company”, the “Issuer”; RTS, MICEX and LSE: MGNT) announces the expiry of the term to submit the offers.

On April 13, 2011 the sole executive body of the issuer — Chief Executive Officer — made the following decision. The term of submission of offers to execute preliminary agreements with potential buyers of the exchange-traded bonds to the bearer with obligatory centralized custody of BO-06 series (identification code 4B02—06-60525-P as of 16.02.2011) has ended on April 22, 2011 at 5 pm. Preliminary agreements oblige potential buyers of the exchange-traded bonds or participants of the trades acting in their interests to execute in future principal agreements on their alienation of the placed securities of BO-06 series.

OJSC “Magnit” announces the expiry of the term to submit the offers