Press-release

Krasnodar

January 24, 2014

OJSC "Magnit" Announces the Change of Share of the Entity under the Issuer's Control

Krasnodar, January 24, 2014: OJSC "Magnit", Russia's largest retailer (the
"Company", the "Issuer", MICEX and LSE: MGNT), announces the change of share of
the entity which is under the Issuer's control.

Full company name and      joint-stock company "Tander"
address:
                           185, Levanevskogo street, Krasnodar, Russia

Taxpayer Id Number:        2310031475

Principal State            1022301598549
Registration Number:

Object of acquisition:     voting shares of the Issuer

January 21, 2014           Acquisition of shares

Amount of acquired shares: 50,236 shares (0.053125% of the total equity)

Basis for acquisition:     Salesand Purchase Agreements executed in the trading
                           of MICEX Stock Exchange,

                           Repurchase Agreement

Amount of votes before     75,174 votes (0.079498% of the total number of votes)
acquisition:

Amount of votes after      125,410 votes (0.132623% of the total number of
acquisition:               votes)

January 21, 2014           Disposal of shares

Amount of disposed shares: 12,177 shares (0.012877% of the total equity)

Basis for disposal:        Sales and Purchase Agreements executed in the
                           trading of MICEX Stock Exchange

Amount of votes before     125,410 votes (0.132623% of the total number of
disposal:                  votes)

Amount of votes after      113,233 votes (0.119746% of the total number of
disposal:                  votes)

January 22, 2014           Acquisition of shares

Amount of acquired shares: 6,800 shares (0.007191% of the total equity)

Basis for acquisition:     Sales and Purchase Agreements executed in the
                           trading of MICEX Stock Exchange

Amount of votes before     113,233 votes (0.119746% of the total number of
acquisition:               votes)

Amount of votes after      120,033 votes (0.126937% of the total number of
acquisition:               votes)

January 22, 2014           Disposal of shares

Amount of disposed shares: 150shares (0.000159% of the total equity)

Basis for disposal:        Sales and Purchase Agreements executed in the
                           trading of MICEX Stock Exchange

Amount of votes before     120,033 votes (0.126937% of the total number of
disposal:                  votes)

Amount of votes after      119,883 votes (0.126778% of the total number of
disposal:                  votes)

January 23, 2014           Acquisition of shares

Amount of acquired shares: 7,000 shares (0.007403% of the total equity)

Basis for acquisition:     Sales and Purchase Agreements executed in the
                           trading of MICEX Stock Exchange

Amount of votes before     119,883 votes (0.126778% of the total number of
acquisition:               votes)

Amount of votes after      126,883 votes (0.134181% of the total number of
acquisition:               votes)

For further information, please contact:

Timothy Post                            Director, Investor Relations

                                        Email: post@gw.tander.ru

                                        Office: +7-861-277-4554 x7600

                                        Mobile: +7-961-511-7678

                                        Direct Line: +7-861-277-4562

Dina Svishcheva                         Deputy Director, Investor Relations

                                        Email: Chistyak@gw.tander.ru

                                        Office: +7-861-277-45-54 x5101

                                        Mobile: +7-961-511-0202

                                        Direct Line: +7-861-277-4562

Company description:

Magnit is Russia's largest retailer. Founded in 1994, the company is
headquartered in the southern Russian city of Krasnodar. As of December 31,
2013, Magnit operated 22 distribution centers and over 8,000 stores (7,200
convenience, 207 hypermarkets, and 686 cosmetics) in more than 1,868 cities and
towns throughout 7 federal regions of the Russian Federation.

In accordance with its reviewed IFRS consolidated financial statements, Magnit
had 1H 2013 revenues of $8.7 billion USD and an EBITDA of $890 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 now
Europe's 2nd largest food retailer.