Krasnodar, April 13, 2011: OJSC “Magnit” (the “Company”; RTS, MICEX and LSE: MGNT) announces the procedure of bonds placement and terms of the offers’ submission.

On April 13, 2011 the issuer’s sole executive body (CEO) has determined the procedure of bonds placement which states that the placement of non- convertible interest-bearing certified exchange-traded bonds to the bearer with the obligatory centralized custody of the BO-06 series (identification code 4В02-06-60525-Р) admitted to trading in the course of placement as of February 16, 2011 shall be exercised via book-building at a fixed price and coupon rate for the first coupon period in accordance with the procedure defined by the Resolution authorizing issuance of securities.

The offers to execute the Preliminary agreements¹ are to be delivered to the address of CJSC IC “Troika Dialog”.

The term of submission of offers to execute the Preliminary agreements² with potential buyers of the exchange-traded bonds of the BO-06 series starts on April 13, 2011 at 11 AM and ends on April 22, 2011 at 5 PM.

The full forms of the offer can be found at the official web-site of the Company: http://www.magnit-info.ru/investors/charter_capital_issue_document/magnit/

¹ As defined by the Resolution authorizing issuance of exchange-traded bonds of the BO-06 series (identification code 4В02-06-60525-Р; admitted to trading on the stock exchange in the course of placement as of February 16, 2011) approved by the Board of directors on February 4, 2011, minutes w/o № as of February 4, 2011.

² Preliminary agreements oblige potential buyers of the exchange-traded bonds or participants of the trades acting in their interests to execute in future principal agreement on their alienation of the placed securities.

OJSC “Magnit” announces the procedure of bonds placement and terms of the offers’ submission