Krasnodar, August 29, 2011: OJSC “Magnit” (the “Company”; RTS, MICEX and LSE: MGNT) is pleased to announce the opening of the 4500th convenience store.

Dear Ladies and Gentlemen!

We are glad to inform you that on August 27, 2011 the Company opened its 4500th convenience store located at 38, Komsomolskaya street, Poltavka village, Omsk region. This is the first Magnit store in this location where population is about 7,100 inhabitants. The total space of the store is 463 sq. m. and its selling space is 313 sq. m. Outlet is leased by the Company.

Poltavka village is 2 968 km far from Moscow and 3 906 km far from Krasnodar.

OJSC «Magnit» announces the opening of the 4500th convenience store