PJSC MAGNIT - Holding of BoD Meeting

Press-release

Krasnodar

December 17, 2014

PJSC "Magnit" Announces the Holdingof the BODMeeting

Krasnodar, December 17, 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 17, 2014 the Chairman of the Board of Directors made the decision
to hold the BOD meeting on December 22, 2014 with the following agenda:

 1. 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.

 2. Determination of the position of the PJSC "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 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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