Krasnodar, November 2, 2012: OJSC “Magnit” (the “Company”; MICEX and LSE: MGNT) is pleased to announce the opening of the 16th “Magnit Family” store.

Dear Ladies and Gentlemen!

We are glad to inform you that today the Company has opened its 16th “Magnit Family” store located at 28 Chaadaeva street, Nizhniy Novgorod, Volga federal district. The store was opened in the result of the reformatting of the convenience store. Assortment of the store consists of more than 6,000 SKUs, out of which about 94% are food items. There are 10 cash desks installed in the sales area. The store is open 7 days a week from 9 am to 10 pm.

OJSC “Magnit” announces the opening of the 16th “Magnit Family” store