Krasnodar, December 28, 2011: OJSC “Magnit” (the “Company”; MICEX and LSE: MGNT) is pleased to announce the opening of the 89th and 90th hypermarkets.

Dear Ladies and Gentlemen!

We are glad to inform you that today the Company has opened its 88th and 89th hypermarkets.

The 89th hypermarket of a small format is located at 18, Chelyuskintsev street, Syzran, Samara region. Assortment of the hypermarket consists of more than 7,800 SKUs, out of which about 82% 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.

The 90th hypermarket of a medium format is located at 40, Popova street, Smolensk, Smolensk region. Assortment of the hypermarket consists of more than 10,200 SKUs, out of which about 87% 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 89th and 90th hypermarkets