Krasnodar, December 21, 2010: OJSC “Magnit” (the “Company”; RTS, MICEX and LSE: MGNT) is pleased to announce the opening of the 45th hypermarket.

Dear Ladies and Gentlemen!

We are glad to inform you that today the Company opened its 45th hypermarket of the medium format located at 1, Krasnoselskoe shosse, Karavaevo village, Kostroma district, Kostroma region. The hypermarket space is leased in “Kollazh” trading center. The total space of the store is over 6,500 sq. m. and its selling space is about 4,500 sq. m. Assortment of the “Magnit” hypermarket consists of about 13,000 SKUs, out of which about 62% are food items. There are 31 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 45th hypermarket