Krasnodar, May 7, 2014: OJSC “Magnit”, Russia’s largest food retailer (the “Company”; MICEX and LSE: MGNT) announces the revision of the outlook to positive by Standard & Poor’s Rating Services.

Please be informed that on May 7, 2014 Standard & Poor’s Rating Services revised its outlook on Magnit to positive from stable and affirmed the ’BB’ long-term rating. The upgrade reflects S&P’s expectation that Magnit will maintain its sound operating performance, despite a tough economic environment.

The positive outlook reflects the possibility of an upgrade within the next 12 months if Magnit maintains improving operating and financial trends and generates material, sustainable free operating cash flow.

OJSC «Magnit» announces the upgrade of the outlook by S&amp;P

OJSC «Magnit» announces the upgrade of the outlook by S&P