Krasnodar, June 10, 2014: OJSC “Magnit”, Russia’s largest food retailer (the “Company”, the “Issuer”, MICEX and LSE: MGNT), announces the increase of the number of its shares owned by OppenheimerFunds, Inc.

Please be informed that OppenheimerFunds, Inc. (6803 S. Tucson Way, Centennial, CO 80112, United States of America) increased its share in the charter capital of OJSC “Magnit” from 4,709,229 (4.980%) to 4,729,595 (5.002%) through OFI Institutional Asset Management, Inc. (6803 S. Tucson Way, Centennial, CO 80112, United States of America) jointly with the following entities:

MassMutual Strategic Emerging Markets Fund (100 Bright Meadow Blvd., M179, Enfield, CT 06082, United States of America)
Oppenheimer Global Allocation Fund (Two World Financial Center, 225 Liberty Street, New York, NY 10281-1008)
Pacific Select Emerging Markets Portfolio (700 Newport Dr Newport Beach, CA 92660)
PL Emerging Markets Fund (700 Newport Dr Newport Beach, CA 92660)
Oppenheimer Developing Markets Fund (Two World Financial Center, 225 Liberty Street, New York, NY 10281-1008)
Transamerica Oppenheimer Developing Markets (Transamerica Asset Management Group 570 Carillon Parkway St. Petersburg, FL 33716-1202)
MassMutual Premier Strategic Emerging Markets Fund (100 Bright Meadow Blvd., M179, Enfield, CT 06082, United States of America)
KVW HSBC INKA Emerging Markets Portfolio (Yorckstraße 21, 40476, Dusseldorf, Germany)
Heptagon OFI Developing Markets Fund (63 Brook Street, London W1K 4HS, United Kingdom)
MML Fern Street LLC (1295 State Street, Spreingfield, MA 01111, United States of America)
Osool SIO Bahrain Emerging Makets Equity Portfolio (1st Floor, Arcapita Building, Building 551, Road 4612, Bahrain Bay, Block 346 (Manama/Sea Front) Kingdom of Bahrain)
Vital Forsikring ASA (Folke Bernadottesvei 40, Postbox 7500, Bergen, Norway)
OFITC Emerging Markets Equity Fund (Two World Financial Center, 225 Liberty Street, New York, NY 10281-1008)
Stichting Pensioenfonds Hoogovens (P.O. Box 10, 000 1970 CA Ijmuiden, The Netherlands)
OFII Emerging Markets Equity Fund LP (Two World Financial Center, 225 Liberty Street, New York, NY 10281-1008)

The disposition right was acquired by OppenheimerFunds, Inc. based on trust management contracts and other agreements, the subject of which is the execution of rights certified by the entity’s shares as of June 2, 2014.

OJSC “Magnit” announces the increase of the number of its shares owned by OppenheimerFunds, Inc.