Krasnodar, June 10, 2014: OJSC “Magnit”, Russia’s largest food retailer (the “Company”; MICEX and LSE: MGNT) announces 28.7% retail sales growth in rubles for May 2014¹.

During May 2014 the Company opened (net) 174 stores. The total store base reached 8,517 stores (7,545 convenience stores, 169 hypermarkets, 51 “Magnit Family” stores and 752 cosmetics stores).

Preliminary consolidated unaudited net retail revenue (excl. VAT) in 5M 2014 increased by 26.88% in ruble terms (compared to 5M 2013) and stood at 285,871.77 million rubles.

According to Rosstat food inflation in May 2014 amounted to 1.5% compared to 1.0% in May 2013, in 5M 2014 6.9% compared to 4.7% in 5M 2013.

¹ According to management accounts

OJSC «Magnit» announces unaudited May 2014 results