Krasnodar, October 29, 2014: PJSC “Magnit”, Russia’s largest food retailer (the “Company”; MICEX and LSE: MGNT),updates guidance for 2014.

Based on the analysis of sales of the nine months and the first half of October this year the management of the Company updates guidance for 2014:

	2014 (original)	2014 (updated on July 23, 2014)	2014 (new)
Sales growth in RUR:	22 — 24%	26 — 29%	31 — 32%
EBITDA margin:	10.2 — 10.7%	10.6 — 10.9%	11.2 — 11.4%
CAPEX, US$ bn	1.7 −1.8	unchanged	unchanged
Number of store openings, net
— convenience stores	1,100	unchanged	unchanged
— hypermarkets and “Magnit Family”	80	unchanged	unchanged
— drogerie stores	300 — 350	unchanged	unchanged

PJSC "Magnit" announces FY 2014 guidance update