Press-release Krasnodar June 24, 2014 OJSC "Magnit" Announces the Execution of the Related Party Transaction Krasnodar, June 24, 2014: OJSC "Magnit", Russia's largest food retailer (the "Company", the "Issuer"; MICEX and LSE: MGNT), announces the execution of the transaction on June 23, 2014. The essentials of the transaction are as follows: Type of transaction: Related party transaction Subject of Provision by the Issuer of the guarantee underthe transaction: revolvingcredit line agreement №KRD/RK/003/14as of June23, 2014, executed between JSC "Tander" and OJSC JSCB "ROSBANK " Content of the In accordance with the guarantee agreement №KRD/PR/052/14 transaction: as of June23, 2014the Guarantor shall be gratuitously liable to the Creditorto the extent provided by this Agreement for the performance of obligationsbythe Borrower under the Revolving credit line agreement №KRD/RK/003/14, executed between the Borrower and the Creditor in Krasnodar as of June 23, 2014,on the following terms: * The creditamount : 3,400, 000,000 (threebillion four hundred million)rubles * The granted term of the credit is until July22, 2015 (inclusive) * The Borrower shall pay the interest on credit to the C reditor at the rate determined by the Revolving credit line agreement but not exceeding 12% per annum * The liability of the Guarantorfor the performance of all obligationsby the Borrowerunder the Credit a greement shall belimited to the amount of 3,40 0,000,000.00 (threebillion four hundred million) rubles * The guaranteeterminates upon the proper performance of obligations by the Borrower under the Credit Agreement or the unilateral change of the Credit Agreement essentials increasing the liability of theGuarantor Deadline for the July 22, 2015 (credit maturity) fulfillment of the obligations: Parties and The creditor - OJSC JSCB "ROSBANK" beneficiaries under transaction: The guarantor - open joint-stock company "Magnit" The borrower (beneficiary) -joint-stock company "Tander" The amount of the 3,400, 000,000rubles which amounts to 4.16% of the balance transaction in the sheet assets of the issueras of December 31, 2013 monetary value and as a % of the asset value of the issuer: Asset value of the 88,717, 075thousand rubles(as of December 31, 2013) issuer as of the closing date of the accounting period preceding the execution of the transaction: Date of the June23, 2014 transaction execution: Information on the The transaction was approved by the General shareholders approval of the meetingof May 29, 2014(Minutes of the general shareholders transaction: meeting of OJSC "Magnit" w/o No. of May 29, 2014) For further information, please contact: Timothy Post Director, Investor Relations Email: email@example.com Office: +7-861-277-4554 x 17600 Mobile: +7-961-511-7678 Direct Line: +7-861-277-4562 Dina Svishcheva Deputy Director, Investor Relations Email: Chistyak@magnit.ru Office: +7-861-277-45-54 x 15101 Mobile: +7-961-511-0202 Direct Line: +7-861-277-4562 Company description: Magnit is Russia's largest food retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of March 31, 2014, Magnit operated 23 distribution centers and over 8,200 stores (7,341 convenience, 215 hypermarkets, and 700 cosmetics) in more than 1,905 cities and towns throughout 7 federal regions of the Russian Federation. In accordance with the audited IFRS consolidated financial statements for 2013, Magnit had revenues of $18,202 million USD and an EBITDA of $2,032 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 one of the largest retailers in Europe. END -0- Jun/24/2014 06:00 GMT
OJSC MAGNIT: Execution of Related Party Transaction
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