OJSC MAGNIT - Magnit 1Q 2014 Financial Results Publication Date

Press-release

Krasnodar

April 14, 2014

OJSC "Magnit" Announces the Publication Date of Unaudited 1Q 2014 Financial Results Prepared in accordance with the IFRS

Krasnodar, April 14, 2014: OJSC "Magnit", Russia's largest retailer (the
"Company"; MICEX and LSE: MGNT), is pleased to announce the publication date of
unaudited 1Q 2014 financial results prepared in accordance with the IFRS.

Please be informed that OJSC "Magnit" plans to release its unaudited 1Q 2014
financial results prepared in accordance with the IFRS on Tuesday, April 22,
2014.

For further information, please contact:

Timothy Post                   Director, Investor Relations
                               Email: [e-mail]
                               Office: [phone] x 17600
                               Mobile: [phone]
                               Direct Line: [phone]

Dina Svishcheva                Deputy Director, Investor Relations
                               Email: [e-mail]
                               Office: [phone] x 15101
                               Mobile: [phone]
                               Direct Line: [phone]

Company description:

Magnit is Russia's largest food retailer. Founded in 1994, the company is
headquartered in the southern Russian city of Krasnodar. As of March 31, 2014,
Magnit operated 23 distribution centers and over 8,200 stores (7,341
convenience, 215 hypermarkets, and 700 cosmetics) in more than 1,905 cities and
towns throughout 7 federal regions of the Russian Federation.

In accordance with the audited IFRS consolidated financial statements for 2013,
Magnit had revenues of $18,202 million USD and an EBITDA of $2,032 million USD.
Magnit's local shares are traded on the Moscow Stock Exchange (MICEX: MGNT) and
its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating
from Standard & Poor's of BB. Measured by market capitalization, Magnit is one
of the largest retailers in Europe.