OJSC MAGNIT - Decision to Pay Dividends

Press-release

Krasnodar

September 26, 2014

OJSC "Magnit" Announces the Decision to Pay Dividends

Krasnodar, September 26, 2014: OJSC "Magnit", Russia's largest food retailer
(the "Company"; MICEX and LSE: MGNT) announces the decision to pay dividends
for the 6 months of 2014 financial year made by the EGM.

The extraordinary general shareholders meeting, held on September 25, 2014,
made the decision to pay dividends on OJSC "Magnit" shares in the total amount
of 7,404,154,096.50 rubles which is 78.3 rubles per share following the results
of the 6 months of 2014 financial year.

Type of securities:                          uncertified ordinary registered
                                             shares

State registration number of the securities  1-01-60525-P of March 4, 2004
issue, date of registration:

Governance body of the Issuer which made the General Shareholders Meeting
decision to pay dividends:

Date of the decision to pay dividends:       September 25, 2014

Date and the number of the minutes of        Minutes w/o No. of 26.09.2014
meeting where the decision to pay dividends
was made:

Reporting period which the dividend is paid  6 months of 2014 financial year
for:

Total amount of dividends accrued on shares  7,404, 154,096. 50 rubles
following the results of the 6 months of
2014 financial year:

The amount of dividend accrued on one share  78.3 rubles
following the results of the 6 months of
2014 financial year:

Form of payment:                             monetary fundsin the currency of
                                             the Russian Federation by bank
                                             transfer

Dividend payment date for nominees:          October 24, 2014

Dividend payment date for the other          November 18, 2014
shareholders:

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.