Krasnodar, December 26, 2011: OJSC “Magnit” (the “Company”; RTS, MICEX and LSE: MGNT) is pleased to announce the opening of the 85th and 86th hypermarkets.

Dear Ladies and Gentlemen!

We are glad to inform you that on December 24th, 2011, the Company has opened its 85th hypermarket of a small format located at 24d, 50 let Oktyabrya street, Syzran, Samara region. Assortment of the hypermarket consists of more than 7,500 SKUs, out of which about 86% 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.

On December 25th, 2011, the Company has opened its 86th hypermarket of a large format located at Plastunskaya street between Udarnaya and Transportnaya streets, Sochi, Krasnodar region. Assortment of the hypermarket consists of more than 18,300 SKUs, out of which about 59% are food items. There are 37 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 85th and 86th hypermarkets