Krasnodar, February 15, 2010: OJSC “Magnit” (the “Company”; RTS, MICEX and LSE: MGNT) receives “Best Deal of the Year” Award in Eastern Europe for 2009 from Business New Europe Magazine.

Business new europe (bne) magazine voted Magnit’s secondary offering “Best Overall Secondary Offering” deal in Eastern Europe for 2009. Business new europe “Deals of the Year” poll was conducted for the first time and is based on opinions from issuers, investors and investment banks across the region covered by the publication.

“Russian supermarket chain Magnit’s $527m <...> offering, which took the form of Global Depositary Receipts combined with a pre-emptive rights issue, was the largest secondary share sale from Russia since the onset of the global credit crunch and attracted strong demand from both domestic and international investors”, the bne editors mentioned.

The full text of the article is available at http://www.businessneweurope.eu/story1932/Deals_of_the_Year_2009 Riders_on_the_storm

Business new europe (bne) is a business magazine published in the UK since 2006 and the only publication covering business, finance, economics and politics in the 30 countries of Central, Eastern and Southeast Europe, the Balkans and Central Asia.

OJSC "Magnit" receives “Best Deal of the Year” Award in Eastern Europe for 2009 from BNE Magazine