Krasnodar, May 12, 2011: OJSC “Magnit” (the “Company”; RTS, MICEX and LSE: MGNT) is pleased to announce the opening of the 64th hypermarket.

Dear Ladies and Gentlemen!

We are glad to inform you that today the Company has opened its 64th hypermarket located at 8, Revolutsii square, Nizhniy Novgorod. Total space of the store is over 3,200 sq. m. and its selling space is about 2,100 sq. m. Assortment of “Magnit” hypermarket consists of about 8,400 SKUs, out of which about 70% are food items. There are 13 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 64th hypermarket