Krasnodar, February 16, 2011: OJSC “Magnit” (the “Company”; RTS, MICEX and LSE: MGNT) is pleased to announce the opening of the 53rd hypermarket.

Dear Ladies and Gentlemen!

We are glad to inform you that today the Company has opened its 53rd hypermarket of the medium format located at 100, Dzerzhinskogo street, Krasnodar (“Krasnaya Ploschad” shopping mall). The store occupies leased premises, its total space is over 4,900 sq. m., selling space is about 3,550 sq. m. Assortment of the “Magnit” hypermarket consists of about 12,700 SKUs, out of which about 55% are food items. There are 21 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 53rd hypermarket