PJSC MAGNIT - Holding of BoD Meeting

Press-release

Krasnodar

December 9, 2014

PJSC "Magnit" Announces the Holding of the BOD Meeting

Krasnodar, December 9, 2014: PJSC "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 December 9, 2014 the Chairman of the Board of Directors made the decision to
hold the BOD meeting on
December 15, 2014 with the following agenda:

 1. Approval of the related party transaction.

 2. Approval of the additional agreement to the agreement with the person
    exercising the power of the sole executive body of PJSC "Magnit".

 3. Making of the decision to pay the bonus to the person exercising the power
    of the sole executive body of PJSC "Magnit" based on the results of 2014.

 4. Introduction (approval) of amendments to the Resolution authorizing
    issuance of non-convertible interest-bearing certified bonds of the 02
    series to the bearer with the obligatory centralized custody.

 5. Introduction (approval) of amendments to the Resolution authorizing
    issuance of non-convertible interest-bearing certified bonds of the 03
    series to the bearer with the obligatory centralized custody.

 6. Introduction (approval) of amendments to the Prospectus of non-convertible
    interest-bearing certified bonds of the 01, 02, 03 series to the bearer
    with the obligatory centralized custody in respect of non-convertible
    interest-bearing certified bonds of the 02, 03 series to the bearer with
    the obligatory centralized custody.

 7. Determination of the position of the PJSC "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 September 30,
2014, Magnit operated 25 distribution centers and over 9,020 stores (7,891
convenience, 243 hypermarkets, and 886 drogerie stores) 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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