OREANDA-NEWS. OJSC “Magnit”, Russia's largest retailer (the “Company”, the “Issuer”; MICEX and LSE: MGNT), announces the execution of the transactions on March 4, 2014.

The essentials of the transaction are as follows:

Type of transaction:

Related party transaction Provision by the Issuer of the guarantee under the Agreement №29-15/1/415 on the opening of the revolving credit line as of March 4, 2014, executed between

Subject of transaction:

JSC “Tander” and Open joint-stock company “Sberbank of Russia” (OJSC “Sberbank of Russia”) In accordance with the guarantee agreement №29-15/1/415n1 as of March 4, 2014 the guarantor shall be solidarily liable to the creditor for the fulfillment of obligations of the borrower under the credit agreement executed on the following terms:

Content of the transaction:

• The credit line limit: 4,500,000,000 (four billion five hundred million) rubles • The granted term of the credit is until March 3, 2017 (inclusive) • The borrower shall pay the interest on credit to the creditor at the rate determined by the credit agreement but not exceeding 12% per annum

Deadline for the fulfillment of the obligation:

The term of validity of the guarantee - until March 3, 2020; prior to the specified term the guarantee is terminated upon fulfillment of all obligations under the Credit agreement by the Borrower, or upon fulfillment of obligations under the Agreement by the Guarantor or to the extent otherwise stipulated by the legislation of the Russian Federation

Parties and beneficiaries under transaction:

The creditor - open joint-stock company “Sberbank of Russia” (OJSC “Sberbank of Russia”) The guarantor - open joint-stock company “Magnit” The borrower (beneficiary) - joint-stock company “Tander”

The Amount of the transaction in the monetary value and as a % of the asset value of the issuer:

6,120,000,000 (six billion one hundred and twenty million) rubles which amounts to 8.94% of the balance sheet assets of the issuer

Asset value of the issuer as of the closing date of the accounting period preceding the execution of the transaction:

68,422,621 thousand rubles

Date of the transaction execution: Information on the approval of the transaction:

March 4, 2014 The transaction was approved by the general shareholders meeting of May 24, 2013 (Minutes of the general shareholders meeting of OJSC “Magnit” w/o No. of May 24, 2013)