OJSC MAGNIT: Execution ot the Related Party Transaction

Press-release 
Krasnodar 
August 8, 2013 
OJSC "Magnit" Announces the Execution of the Related Party Transaction 
Krasnodar, August 8, 2013: OJSC "Magnit", Russia's largest retailer (the
"Company"; MICEX and LSE: MGNT), announces the execution of the related party
transaction by the Company on August 7, 2013. 
The essentials of the transaction are as follows: 
Type of transaction:   Related party transaction                                
                                                                           
Subject of             provision of the suretyship under the Revolving Credit  
transaction:           Line Agreement № 130628/0249018dated June 28, 2013      
                     executed between JSC "Tander" and "ROSBANK" (OJSC JSCB)  
                                                                           
Content of the         Under the Suretyship Agreement No.130807/0248980/S dated
transaction:           August7 , 2013the Surety shall undertake to be gratuit   


                       ously liable to the Creditor to the extent provided by  
                       this Agreement for the performance of obligations       
                       thereof by the Borrowerunder the Revolving Credit Line  
                       Agreement № 130628/0249018 dated June 28, 2013executed 
                         between the Borrower and the Creditor in Krasnodar with 
                       the following essentials:                               
                                                                               
                         * Loan Amount: 2,000,000,000 (twobillion) rubles;     
                                                                               
                         * Loan is provided for the period till 26.06 .2015    
                           inclusively;                                        
                                                                               
                         * The Borrower shall pay the Creditor the interest for
                           the loan use at the rate determined by the Revolving
                           Credit Line Agreement but not exceeding 12% per     
                           annum;                                              
                                                                               
                         * The liability of the Surety for the performance of  
                           all obligations under the Credit Agreement shall be 
                           limited to the amount of 2,480,000,000 .00(two      
                           billion fourhundred and eightymillion) Russian      
                           Rubles,                                             
                                                                               
                         * Suretyship terminates upontheproper performance of  
                           obligations by the Borrower under the Credit        
                           Agreementor the unilateral change of the Credit     
                           Agreement essentials increasing the liability of the
                           Surety.                                             


                                                                           
Deadline to fulfill    June26, 2015(term of repayment of principal loan and    
obligations under the  interests)                                              
transaction:                                                                    
                                                                           
Parties and            the Surety - open joint-stock company «Magnit»; the     
beneficiaries of the   Creditor - "ROSBANK" (OJSC JSCB), the Borrower (the     
transaction:           beneficiary) - joint-stock company «Tander»             
                                                                             
Amount of the          2,480,000,000 .00rubles that amounts to 3.62% from the  
transaction:           issuer's balance sheet assetsas of 31.12.2012            
                                                                           
The value of the       68,422 ,621thousand rubles(as of 31.12.2012)            
issuer's assets as of                                                          
the last date of the                                                           
accounting period                                                              
(quarter, year)                                                                
preceding the                                                                  
transaction (date of                                                           
the contract) and in                                                           
respect of which the                                                           
term for submission of                                                         
the accounting                                                                 
(financial) report                                                             
expired:                                                                        
                                                                           
Date of transaction    August7, 2013                                           
(date of the                                                                   
contract):                                                                      
                                                                           
Approval of the        the transaction was approved by the General shareholders
transaction:           meeting of May 24, 2013(minutes of the annual general    
                   shareholders meeting of OJSC "Magnit" № w/№ of 
May24,    


                       2013)                                                   

For further information, please contact:

Timothy Post                            Director, Investor Relations           
                                                                               
                                        Email: post@gw.tander.ru               
                                                                               
                                        Office: +7-861-277-4554 x7600          
                                                                               
                                        Mobile: +7-961-511-7678                
                                                                               
                                        Direct Line: +7-861-277-4562           


                                                                           
Dina Svishcheva                         Deputy Director, Investor Relations     


                                                                               
                                        Email: Chistyak@gw.tander.ru           
                                                                               
                                        Office: +7-861-277-4554 x5101          
                                                                               
                                        Mobile: +7-961-511-0202                
                                                                               
                                        Direct Line: +7-861-277-4562           

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 June
30, 2013, Magnit operates 18 distribution centers and over 7,000 stores (6,552
convenience, 164 hypermarkets, and 700 cosmetics) in more than 1,700 cities and
towns throughout 7 federal regions of the Russian Federation.

In accordance with the unaudited IFRS management accounts for 1H 2013, Magnit
had revenues of $8,796 million USD and an EBITDA of $889 million 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- Aug/08/2013 07:12 GMT


 
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