Decision to Pay Dividends

Press-release

Krasnodar

May 24, 2013

OJSC "Magnit" Announces the Decision to Pay Dividends

Krasnodar, May 24, 2013: OJSC "Magnit", Russia's largest retailer (the
"Company"; MICEX and LSE: MGNT), announces the decision to pay dividends for FY
2012 made by the AGM.

The annual general shareholders meeting, held on May 24, 2013, made the
decision to pay dividends on OJSC "Magnit" shares in the total amount of
5,202,765,752.10 rubles which is 55.02 rubles per share following the results
of 2012 financial year.

Type of securities:                          ordinary registered shares

State registration number of the securities  1-01-60525-P of 04.03.2004
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:       May 24, 2013

Date and the number of the minutes of        Minutes w/o No. of 24.05.2013
meeting where the decision to pay dividends
was made:

Reporting period which the dividend is paid  2012 financial year
for:

The total amount of dividends accrued on:    5,202, 765,752.10 rubles

The amount of dividend accrued on one share  55.02 rubles
following the results of 2011 financial
year:

Form of payment:                             monetary fundsin the currency of
                                             the Russian Federation in non-cash
                                             form

Expiration date of the fulfillment of        July 23, 2013
obligation on dividend payment:

For further information, please contact:

Timothy Post     Director, Investor Relations
                 e-mail: Post@gw.tander.ru
                 Tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 7600
                 Mob.: +7 (961) 511-76-78
                 Direct line for investors only: +7 (861) 277-45-62

Dina Svishcheva  Deputy Director, Investor Relations
                 e-mail: Chistyak@gw.tander.ru
                 Tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 5101
                 Mob.: +7-961-511-02-02
                 Direct line for investors only: +7 (861) 277-45-62

Company description:

Magnit is Russia's largest retailer. Founded in 1994 by Sergey Galitskiy, the
company is headquartered in the southern Russian city of Krasnodar. As of March
31, 2013, Magnit operates 18 distribution centers and over 7,000 stores (6,209
convenience, 153 hypermarkets, and 713 cosmetics) in more than 1,600 cities and
towns throughout 7 federal regions of the Russian Federation.

In accordance with its audited IFRS consolidated financial statements for
year-end 2012, Magnit had revenues of $14.43 billion USD and an EBITDA of $1.52
billion 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 retailer.



END


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