OJSC MAGNIT - 174th Hypermarket Opening

Press-release

Krasnodar

September 23, 2014

OJSC "Magnit" Announces the Opening of the 174th Hypermarket

Krasnodar, September 23, 2014: OJSC "Magnit", Russia's largest food retailer
(the "Company"; MICEX and LSE: MGNT), is pleased to announce the opening of the
174th hypermarket of a medium format.

Please be informed that today the Company has opened its 174th hypermarket of a
medium format located at 308 Kirova prospect, Samara, Volga federal region.
Assortment of the hypermarket consists of about 19,400 SKUs, out of which about
65% are food items. There are 25 cash desks installed in the sales area. The
outlet is owned by the Company. The hypermarket is open 7 days a week from 9 am
to 11 pm.

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.