Krasnodar, December 23, 2011: OJSC “Magnit” (the “Company”; RTS, MICEX and LSE: MGNT) is pleased to announce the opening of the 200th “Magnit Kosmetik” store.

Dear Ladies and Gentlemen!

We are glad to inform you that today the Company opens its 200th “Magnit Kosmetik” store located at 142b, Mira street, Volzhskiy, Volgograd region. This is the third cosmetics store of the Company in this city where population is about 314 inhabitants. “Magnit Kosmetik” is located on the second floor of the owned premises above the convenience store. Selling space is 340 sq. m. Assortment consists of about 7,500 SKUs. The store is open 7 days a week from 9:30 am to 9:00 pm.

OJSC «Magnit» announces the opening of the 200th cosmetics store