OJSC MAGNIT - Holding of BoD Meeting

Press-release

Krasnodar

October 1, 2014

OJSC "Magnit" Announces the Holding of the BOD Meeting

Krasnodar, October 1, 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 October 1, 2014 the Chairman of the Board of Directors made the decision to
hold the BOD meeting on
October 7, 2014 with the following agenda:

 1. Determination of OJSC "Magnit" business priorities.

 2. Approval of the related party transaction.

 3. Determination of the amount of remuneration for the auditor's services.

 4. 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.

 5. 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 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 reviewed IFRS consolidated financial statements for 1H
2014, Magnit had revenues of $9,979 million USD and an EBITDA of $1,045 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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