Krasnodar, February 1, 2011: OJSC “Magnit” (the “Company”; RTS, MICEX and LSE: MGNT) is pleased to announce the opening of the 52nd hypermarket.

Dear Ladies and Gentlemen!

We are glad to inform you that today the Company has opened its 52nd hypermarket of the small format located at 10, Moskovskaya street, Buzuluk, Orenburg region. The total space of the store is over 3,800 sq. m. and its selling space is over 1,800 sq. m., out of which about 50 sq. m. is rental space. Assortment of the “Magnit” hypermarket consists of about 6,500 SKUs, out of which about 77% 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 52nd hypermarket