Krasnodar, July 11, 2011: OJSC “Magnit” (the “Company”; RTS, MICEX and LSE: MGNT) is pleased to announce its unaudited June 2011 results¹.

During 6M 2011 the Company opened (net) 405 stores. The total store base reached 4,460 stores (4,366 convenience stores, 66 hypermarkets and 28 cosmetics stores). Preliminary consolidated unaudited net retail revenue (excl. VAT) in 6M 2011 increased by 51.04% in ruble terms (compared to 6M 2010) and stood at 156,533.06 million rubles. Net retail sales in June 2011 increased by 46.36% vs. June 2010 and amounted to 27,240.36 million rubles.

¹ According to management accounts

OJSC «Magnit» announces unaudited June 2011 results