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OJSC MAGNIT: BOD Results

Press-release 
Krasnodar 
February 4, 2013 
OJSC "Magnit" Announces the Results of the BOD Meeting 
Krasnodar, February 4, 2013: OJSC "Magnit" (the "Company", "Issuer"; MICEX and
LSE: MGNT) is pleased to announce the results of the BOD meeting held on
February 4, 2013. 
Please be informed that today the BOD meeting was held (minutes of BOD meeting
of OJSC "Magnit" are w/o No. of February 4, 2013). 
The meeting agenda: 
 1. Consideration of proposals for inclusion as items on the agenda of the 


    annual general shareholders' meeting of OJSC "Magnit".
     2. Consideration of proposals for the nomination of candidates to stand for
    election to the board of directors, the revision commission and the
    counting commission of OJSC "Magnit" at the annual general shareholders'
    meeting of OJSC "Magnit".
     3. Consideration of proposals for the nomination of candidates to stand for
    election as the auditor of OJSC "Magnit" at the annual general
    shareholders' meeting of OJSC "Magnit".


The following BOD members were present: A. Arutyunyan, S. Galitskiy, V.
Butenko, K. Pombukhchan and A. Shkhachemukov. 
A. Zayonts and A. Makhnev provided their written opinions on the items of the
agenda of the BOD meeting of OJSC "Magnit". 
The number of the BOD members participated in the meeting, including written
opinions of A. Zayonts and A. Makhnev, amounts to not less than half of the
number of the BOD members determined by the Charter of the Company. 
Quorum to hold the BOD meeting with this agenda is present. 
Content of the decisionsand voting results: 
Item 1 on the agenda: 
"To include the following item on the agenda of the annual general
shareholders' meeting of OJSC "Magnit" convened following the close of the 2012
financial year and to ratify the wording of the decision on the item: 
Wording of the agenda item of the     Wording of the decision on the agenda 
 annual general shareholders' meeting         item of the annual general        
                                             shareholders' meeting          
                                                                           
Approval of the auditor of OJSC         To approve Ernst&Young Limited         
"Magnit" according to the international Liability Company as the auditor of    
financial reporting standards           OJSC "Magnit" according to the          


                                        international financial reporting      
                                        standards, legal address: bld.1, 77    
                                        Sadovnicheskaya embankment, Moscow,    
                                        115035, Russian Federation             

Votes were cast as follows:

A. Arutyunyan - "for", V. Butenko - "for", S. Galitskiy - "for", A. Zayonts -
"for", A. Makhnev - "for", K. Pombukhchan - "for", A. Shkhachemukov - "for".

The decision was made.

Item 2.1 on the agenda:

"To include the following candidates on the list of candidates for voting at
the election of the board of directors of OJSC "Magnit" at the annual general
shareholders' meeting of OJSC "Magnit" convened following the close of the 2012
financial year:

Names of candidates     Nationality        Date of birth     Passport details  


                                                                           
 Alexander Zayonts  Russian Federation      10.01.1967      Information is      


                                                            disclosed according
                                                            to the Federal law 
                                                            "On Personal Data" 


                                                                           
  Alexey Makhnev    Russian Federation      24.05.1976      Information is      


                                                            disclosed according
                                                            to the Federal law 
                                                            "On Personal Data" 

Votes were cast as follows:

A. Arutyunyan - "for", V. Butenko - "for", S. Galitskiy - "for", A. Zayonts -
"for", A. Makhnev - "for", K. Pombukhchan - "for", A. Shkhachemukov - "for".

The decision was made.

Item 2.2 on the agenda:

"To include the following candidates on the list of candidates for voting at
the election of the board of directors of OJSC "Magnit" at the annual general
shareholders' meeting of OJSC "Magnit" convened following the close of the 2012
financial year:

Names of candidates     Nationality        Date of birth     Passport details  


                                                                           
  Valeriy Butenko   Russian Federation      25.11.1965      Information is      


                                                            disclosed according
                                                            to the Federal law 
                                                            "On Personal Data" 


                                                                           
Aslan Shkhachemukov Russian Federation      22.08.1962      Information is      


                                                            disclosed according
                                                            to the Federal law 
                                                            "On Personal Data" 

Votes were cast as follows:

A. Arutyunyan - "for", V. Butenko - "for", S. Galitskiy - "for", A. Zayonts -
"for", A. Makhnev - "for", K. Pombukhchan - "for", A. Shkhachemukov - "for".

The decision was made.

Item 2.3 on the agenda:

"To include the following candidates on the list of candidates for voting at
the election of the board of directors of OJSC "Magnit" at the annual general
shareholders' meeting of OJSC "Magnit" convened following the close of the 2012
financial year:

Names of candidates     Nationality        Date of birth     Passport details  


                                                                           
 Andrey Arutyunyan  Russian Federation      12.01.1969      Information is      


                                                            disclosed according
                                                            to the Federal law 
                                                            "On Personal Data" 


                                                                           
 Sergey Galitskiy   Russian Federation      14.08.1967      Information is      


                                                            disclosed according
                                                            to the Federal law 
                                                            "On Personal Data" 
                                                                               
     Khachatur      Russian Federation      16.03.1974      Information is     
    Pombukhchan                                             disclosed according
                                                            to the Federal law 
                                                            "On Personal Data" 

Votes were cast as follows:

A. Arutyunyan - "for", V. Butenko - "for", S. Galitskiy - "for", A. Zayonts -
"for", A. Makhnev - "for", K. Pombukhchan - "for", A. Shkhachemukov - "for".

The decision was made.

Item 3 on the agenda:

"To include the following candidate on the list of candidates for voting at the
election of the auditor of OJSC "Magnit" at the annual general shareholders'
meeting of OJSC "Magnit" convened following the close of the 2012 financial
year:

Full company name of the candidate: "Faber Leks" Limited Liability Company;

State registration data: Principal State Registration Number of the issuer
1022301213197, Taxpayer Id. Number 2308052975;

Location: 144/2 Krasnykh Partizan street, Krasnodar, 350049, Krasnodar region;

Information on membership in the self-regulatory organization of auditors:
certificate as of 15.02.2010 of membership in the Non-commercial partnership
"The Moscow Audit Chamber" (Order of the Ministry of Finance of the Russian
Federation № 578 as of 26.11.2009 on entering data on the Non-commercial
partnership "The Moscow Audit Chamber" into the state register of the
self-regulatory organization of auditors), Principal Number of Registration
Entry 10203002910."

Votes were cast as follows:

A. Arutyunyan - "for", V. Butenko - "for", S. Galitskiy - "for", A. Zayonts -
"for", A. Makhnev - "for", K. Pombukhchan - "for", A. Shkhachemukov - "for".

The decision was made.

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:

Headquartered in the southern Russia city of Krasnodar, Magnit (LSE and MICEX:
MGNT) 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 December 31, 2012 the chain
consisted of 6,046 convenience stores, 126 hypermarkets, 20 "Magnit Family"
stores and 692 cosmetics stores (drogerie) in 1,605 cities and towns throughout
the Russian Federation.

Approximately two-thirds of the Magnit'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 December 31, 2012 Magnit operated an in-house logistics system consisting
of 18 distribution centers, employing automated stock replenishment systems and
a fleet of 4,401 vehicles.

In accordance with the unaudited IFRS management accounts for 2012, Magnit
recorded consolidated revenues of approximately $14,430 billion USD and a
consolidated EBITDA of $1,524 million USD.



END

-0- Feb/04/2013 12:43 GMT