Krasnodar, April 10, 2014: OJSC “Magnit”, Russia’s largest food retailer (the “Company”; MICEX and LSE: MGNT) announces 24.48% retail sales growth in rubles for March 2014¹.

During March 2014 the Company opened (net) 49 stores. The total store base reached 8,256 stores (7,341 convenience stores, 165 hypermarkets, 50 “Magnit Family” stores and 700 cosmetics stores).

Preliminary consolidated unaudited net retail revenue (excl. VAT) in 3M 2014 increased by 24.95% in ruble terms (compared to 3M 2013) and stood at 163,951.83 million rubles.

According to Rosstat food inflation in March 2014 amounted to 1.8% compared to 0.4% in March 2013, in 3M2014 — 4.0% compared to 3.0% in 3M2013.

¹ According to management accounts

OJSC "Magnit" announces unaudited March 2014 results