OREANDA-NEWS. OJSC "Magnit" (the "Company"; MICEX and LSE: MGNT) announces 33% retail sales growth in rubles for March 2013

During March 2013 the Company opened (net) 80 stores. The total store base reached 7,075 stores (6,209 convenience stores, 132 hypermarkets, 21 "Magnit Family" stores and 713 cosmetics stores).

Preliminary consolidated unaudited net retail revenue (excl. VAT) in 3M 2013 increased by 30.44% in ruble terms (compared to 3M 2012) and stood at 131,217.87 million rubles.

As has been noted previously, the month of February 2012 occurred during a "leap year" and thus, there were 29 days (i.e. an extra day). February 2013, on the other hand, occurred during a "normal year" in which there were only 28 days.

This very same "leap year" effect/adj ustment should also be calculated when one makes the comparison between 3M 2012 numbers vs. 3M 2013 numbers.

Therefore, i n order to fai rly compare the 3M 2012 results to the 3M 2011 results an amount of 1.47% should be subtracted for the 3M 2012, which would then equal 32.60%. To compare the 3M 2013 results with the 3M 2012 results correctly, an amount of 1.45% should be added, which would then equal 31.89%.