Krasnodar, December 30, 2010: OJSC “Magnit” (the “Company”; RTS, MICEX and LSE: MGNT) is pleased to announce the opening of the 51st hypermarket.

Dear Ladies and Gentlemen!

We are glad to inform you that today the Company has opened its 51st hypermarket of the small format located at 156, Lenina street, Mikhailovsk, Shpakovskiy district, Stavropol region. The total space of the store is over 5,000 sq. m. and its selling space is over 2,200 sq. m., out of which about 200 sq. m. is rental space. Assortment of the “Magnit” hypermarket consists of about 7,300 SKUs, out of which about 68% are food items. There are 19 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 51st hypermarket