Krasnodar, August 8, 2014: OJSC “Magnit”, Russia’s largest food retailer (the “Company”; MICEX and LSE: MGNT) announces 33.68% retail sales growth in rubles for July 2014¹.

During July 2014 the Company opened (net) 115 stores. The total store base reached 8,733 stores (7,686 convenience stores, 170 hypermarkets, 61 “Magnit Family” stores and 816 drogeries).

Preliminary consolidated unaudited net retail revenue (excl. VAT) in 7M 2014 increased by 28.78% in ruble terms (compared to 7M 2013) and stood at 414,612.27 million rubles.

According to Rosstat food inflation in July 2014 amounted to 0.7% compared to 0.5% in July 2013, in 7M 2014 7.6% compared to 5.2% in 7M 2013.

¹ According to management accounts

OJSC "Magnit" announces unaudited July 2014 results