OJSC MAGNIT: Holding of BoD Meeting

October 21, 2013 
OJSC "Magnit" Announces the Holding of the BOD Meeting 
Krasnodar, October 21, 2013: OJSC "Magnit", Russia's largest retailer (the
"Company", the "Issuer", MICEX and LSE: MGNT), is pleased to announce the
holding of the Board of Directors meeting. 
On October 21, 2013 the Chairman of the Board of Directors made the decision to
hold the BOD meeting on October 29, 2013 with the following agenda: 
 1. Determination of OJSC "Magnit" business priorities. 

     2. Approval of the related party transactions.
     3. Determination of the amount of remuneration for the auditor's services.
     4. On serving of the CEO (Chairman of the Management Board) of OJSC "Magnit"
    on the management body of the other organization.
    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: +7-861-277-45-54 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
September 30, 2013, Magnit operates 19 distribution centers and over 7,600
stores (6,783 convenience, 178 hypermarkets, and 685 cosmetics) in more than
1,760 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the reviewed IFRS consolidated financial statements for 1H
2013, Magnit had revenues of $8,796 million USD and an EBITDA of $890 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.


-0- Oct/21/2013 09:38 GMT

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