Krasnodar, December 27, 2011: OJSC “Magnit” (the “Company”; RTS, MICEX and LSE: MGNT) is pleased to announce the opening of the 87th and 88th hypermarkets.

Dear Ladies and Gentlemen!

We are glad to inform you that today the Company has opened its 87th and 88th hypermarkets.

The 87th hypermarket of a small format is located at 17, Partizanskaya street, Samara, Samara region. Assortment of the hypermarket consists of more than 9,300 SKUs, out of which about 92% are food items. There are 17 cash desks installed in the sales area. The hypermarket is open 7 days a week from 10 am to 10 pm.

The 88th hypermarket of a small format is located at 122, Privokzalnaya street, Maikop, Republic of Adygeya. Assortment of the hypermarket consists of more than 6,100 SKUs, out of which about 91% 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 87th and 88th hypermarkets