OJSC MAGNIT - Holding of BoD Meeting

Press-release

Krasnodar

April 15, 2014

OJSC "Magnit" Announces the Holdingof the BOD Meeting

Krasnodar, April 15, 2014: OJSC "Magnit", Russia's largest food retailer (the
"Company", the "Issuer", MICEX and LSE: MGNT), is pleased to announce the
holding of the Board of Directors meeting.

On April 15, 2014 the Chairman of the Board of Directors made the decision to
hold the BOD meeting on
April 17, 2014 with the following agenda:

 1. Approval of the list of candidates to be elected to the Board of Directors
    of the Company at the AGM of OJSC "Magnit".

 2. Approval of the form and the text of the voting ballot on the third agenda
    item to be considered at the AGM of OJSC "Magnit" "Election of the Board of
    directors of OJSC "Magnit".

 3. Approval of the related party transaction.

 4. Determination of the position of the OJSC "Magnit" representative at the
    exercise of the voting right on the Retail Import LLC shares in the charter
    capital owned by the Company.

For further information, please contact:

Timothy Post                            Director, Investor Relations

                                        Email: [e-mail]

                                        Office: [phone] x 17600

                                        Mobile: [phone]

                                        Direct Line: [phone]

Dina Svishcheva                         Deputy Director, Investor Relations

                                        Email: [e-mail]

                                        Office: [phone] x 15101

                                        Mobile: [phone]

                                        Direct Line: [phone]

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.

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