OJSC MAGNIT - Dividend Payment

Press-release

Krasnodar

August 27, 2014

OJSC "Magnit" Dividend Payment Update

Krasnodar, August 27, 2014: OJSC "Magnit", Russia's largest retailer (the
"Company"; MICEX and LSE: MGNT), announces the payment of dividends.

Please be informed that the Company has made dividend payment on its shares
following the results of 2013 financial year.

Type of securities:                                 ordinary registered shares

State registration number of the issue:             1-01-60525-P as of
                                                    04.03.2004

Total amount of dividends accrued on shares         8,430, 144,798.25 rubles
following the results of 2013 financial year:

Amount of dividend accrued on one share following   89.15rubles
the results of 2013 financial year:

Form of yield payment:                              monetary funds in the
                                                    currency of the Russian
                                                    Federation, non-cash
                                                    payment

Dividend payment date for nominees and trust        June 27,2014
managers who are professional securities market
participants registered in the shareholder
register:

Dividend payment date for the other shareholders    July 18,2014
registered in the shareholder register

The Company has effected dividend payment in the amount of 8,430,135,348.35
rubles, out of which 79,343.50 rubles were returned to the Company's account as
of August 27, 2014 due to the absence of the accurate bank account details and/
or another creditor's delay.

The outstanding dividend amount is 9,449.90 rubles which represents 0.000112%
of the total amount of the announced dividends. Nonpayment is due to the
absence of the bank account details required for the payment.

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.