OJSC MAGNIT - Holding of BoD Meeting

Press-release

Krasnodar

August 8, 2014

OJSC "Magnit" Announces the Holding of the BOD Meeting

Krasnodar, August 8, 2014: OJSC "Magnit", Russia's largest food retailer (the
"Company", MICEX and LSE: MGNT), is pleased to announce the holding of the
Board of Directors meeting.

On August 8, 2014 the Chairman of the Board of Directors made the decision to
hold the BOD meeting on August 12, 2014 with the following agenda:

 1. Determination of the position of the OJSC "Magnit" representative at the
    exercise of the voting right on the JSC "Tander" shares 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 June 30, 2014,
Magnit operated 24 distribution centers and over 8,600 stores (7,614
convenience, 226 hypermarkets, and 778 drogeries) in approximately 2,000 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.

Copyright st 8 PR Newswire