OJSC MAGNIT: Holding of BOD

Press-release 
Krasnodar 
June 17, 2013 
OJSC "Magnit" Announces the Holding of the BOD 
Krasnodar, June 17, 2013: OJSC «Magnit» (the "Company"; MICEX and LSE: MGNT) 
is
pleased to announce the holding of the Board of Directors meeting. 
On June 17, 2013 the Chairman of the Board of Directors made the decision to
hold the BOD meeting on June 25, 2013 with the following agenda: 
 1. Election of the Chairman of the Board of Directors of OJSC "Magnit". 


     2. Election of the Deputy Chairman of the Board of Directors of OJSC "Magnit".
     3. Election of the Secretary of the Board of Directors of OJSC "Magnit".


 4. Formation of the audit committee of the Board of Directors of OJSC 
"Magnit". 


     5. Election of the Chairman of the audit committee of the Board of Directors
    of OJSC "Magnit".
     6. Formation of the HR and remuneration committee of the Board of Directors of
    OJSC "Magnit".
     7. Election of the Chairman of the HR and remuneration committee of the Board
    of Directors of OJSC "Magnit".
     8. Election of the Management Board of OJSC "Magnit".
     9. Determination of OJSC "Magnit" business priorities.
    10. Adoption of the decision to place securities (exchange-traded bonds to
    bearer of the BO-10 series).
    11. Adoption of the decision to place securities (exchange-traded bonds to
    bearer of the BO-11 series).
    12. Approval of the Decision to issue securities (exchange-traded bonds to
    bearer of the BO-10 series).
    13. Approval of the Decision to issue securities (exchange-traded bonds to
    bearer of the BO-11 series).
    14. Approval of the Prospectus (exchange-traded bonds to bearer of the BO-10,
    BO-11 series).
    15. Approval of the major transaction (several associated transactions) of
    placement of the exchange-traded bonds of the BO-10, BO-11 series by means
    of public subscription.
    16. Determination of the position of the OJSC "Magnit" representative at the
    exercise of the voting right on shares of JSC "Tander" owned by the
    Company.
    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 than1,600 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

-0- Jun/17/2013 12:32 GMT