OJSC MAGNIT - S. Galitskiy named Businessman of the Year 2014 by GQ

Press-release

Krasnodar

September 17, 2014

Magnit CEO Sergey Galitskiy Has Been Named Businessman of the Year 2014 by GQ

Krasnodar, September 17, 2014: Sergey Galitskiy, CEO of "Magnit", Russia's
largest food retailer (MICEX and LSE: MGNT) has been named Businessman of the
Year 2014 by GQ.

Magnit CEO Sergey Galitskiy has been named "Businessman of the Year 2014" by
the Russian edition of GQ magazine at the annual GQ Men Of The Year Awards.

According to GQ, Sergey Galitskiy founded Russia's largest retail chain,
"Magnit", and the most interesting Football Club, "FC Krasnodar".

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 June 30, 2014,
Magnit operated 24 distribution centers and over 8,600 stores (7,614
convenience, 226 hypermarkets, and 778 drogeries) in approximately 2,000 cities
and towns throughout 7 federal regions of the Russian Federation.

In accordance with the reviewed IFRS consolidated financial statements for 1H
2014, Magnit had revenues of $9,979 million USD and an EBITDA of $1,045 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.