Krasnodar, March 15, 2010: OJSC “Magnit” (the “Company”; RTS, MICEX and LSE: MGNT) is pleased to announce the opening of the 25th hypermarket.

Dear Ladies and Gentlemen!

We are glad to inform you that on March 13, 2010 the Company opened its 25th hypermarket located at 8, Yung Severnogo Flota str., Dimitrovgrad, the Ulyanovsk region. Total space of the store is 7,317 sq. m. and its selling space is 3,429 sq. m. (out of which 1,269 sq. m. is rental space). Assortment of the “Magnit” hypermarket consists of about 8,500 SKUs, out of which 80% are food items. There are 17 cash desks installed in the sales area.

OJSC “Magnit” announces the opening of the 25th hypermarket