Krasnodar, December 30, 2010: OJSC “Magnit” (the “Company”; RTS, MICEX and LSE: MGNT) signs master agreement with MAN Nutzfahrzeuge for 1,700 vehicles. Dear Ladies and Gentlemen!

We are glad to inform you that the Company has signed master agreement for 1,700 heavy TGS trucks with MAN Nutzfahrzeuge and its sales subsidiary MAN Avtomobili Rossiya (MAR).

Deliveries of the first 620 vehicles will begin in February 2011. The remaining 1,080 vehicles are to be delivered in the course of 2011.

Sergey Galitskiy, the Company’s CEO, provided the following comments: “I am pleased with signing the contract with MAN, we need these vehicles. We have worked with MAN since 2005 and consider MAN our strategic and long-term partner”.

About MAN Avtomobili Rossiya:

MAN Avtomobili Rossiya, a wholly-owned subsidiary of MAN Nutzfahrzeuge AG, runs a total of 4 sales centres and 45 service outlets in Russia/CIS with approximately 390 employees. By the end of 2010 MAN will have sold over 3,800 vehicles in the CIS region.

OJSC «Magnit» signs agreement with MAN for 1,700 heavy trucks