OREANDA-NEWS. June 14, 2012. OJSC "Magnit" (the "Company"; MICEX and LSE: MGNT) is pleased to announce the opening of the 98th hypermarket of a medium format.

We are glad to inform you that today the Company has opened its 98th hypermarket of a medium format located at 30 Oktyabrskiy prospect, Tver. Assortment of the hypermarket consists of about 10,000 SKUs, out of which about 59% are food items. There are 25 cash desks installed in the sales area. The hypermarket is open 7 days a week from 9 am to 11 pm.

ased in Krasnodar, in the Southern region of Russia, Open Joint Stock Company "Magnit" (LSE and MICEX: MGNT, S&P: "BB-") is the holding company for a group of entities that operate in the retail trade under the "Magnit" brand. The chain of "Magnit" stores is one of the leading food retail networks in Russia. As of March 31, 2012 the chain consisted of 5,104 convenience stores, 91 hypermarkets, 5 "Magnit Family" stores and 266 cosmetics stores (drogerie) in 1,424 locations in the Russian Federation.

Approximately two-thirds of the Company's stores are located in cities with a population of less than 500,000 inhabitants. Most of its stores are located in the Southern, North-Caucasian, Central and Volga regions. The Company also operates stores in the North-Western, Urals and Siberian regions.

As of March 31, 2012 the Company operated an in-house logistics system consisting of 15 distribution centers, employing automated stock replenishment systems and a fleet of 3,922 vehicles.

In accordance with the audited IFRS consolidated financial statements for 2011, the Company recorded consolidated revenue of approximately USD  11,423 million and consolidated EBITDA of around USD  939 million.