Krasnodar, December 1, 2011: OJSC “Magnit” (the “Company”; RTS, MICEX and LSE: MGNT) is pleased to announce its unaudited November 2011 results¹

During 11M 2011 the Company opened (net) 968 stores. The total store base reached 5,023 stores (4,783 convenience stores, 80 hypermarkets and 160 cosmetics stores). Preliminary consolidated unaudited net retail revenue (excl. VAT) in 11M 2011 increased by 43.23% in ruble terms (compared to 11M 2010) and stood at 297,134.44 million rubles.

Sergey Galitskiy, the Company’s CEO, provided the following comments on the published results:

“Despite lower food inflation in 2011 vs. 2010 (October 2010 — 9.1%, November 2010 — 10.6%, October 2011 — 2.7% (year to date)² ) we see positive dynamics of sales growth rate in November this year vs. October.”

¹ According to management accounts

² Rosstat www.gks.ru

OJSC «Magnit» announces unaudited November 2011 results