Krasnodar, November 30, 2010: OJSC “Magnit” (the “Company”; RTS, MICEX and LSE: MGNT) is pleased to announce the opening of the 39th hypermarket.

Dear Ladies and Gentlemen!

We are glad to inform you that today the Company has opened its 39th hypermarket of the small format located at 135, Telmana street, Gelendzhik, Krasnodar region. The total space of the store is about 3,800 sq. m. and its selling space is about 1,500 sq. m. Assortment of the “Magnit” hypermarket consists of over 6,300 SKUs, out of which about 90% are food items. There are 15 cash desks installed in the sales area. The hypermarket is open 7 days a week from 10 am to 10 pm.

OJSC “Magnit” announces the opening of the 39th hypermarket