PJSC MAGNIT - Holding of BoD Meeting

Press-release

Krasnodar

February 2, 2015

PJSC "Magnit" Announces the Holding of the BOD Meeting

Krasnodar, February 2, 2015: 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 February 2, 2015 the Chairman of the Board of Directors made the decision to
hold the BOD meeting on February 4, 2015 with the following agenda:

 1. Consideration of proposals for the nomination of candidates to stand for
    election to the board of directors of PJSC "Magnit" at the annual general
    shareholders meeting of PJSC "Magnit".

 2. Consideration of proposals for the nomination of candidates to stand for
    election as the auditor of PJSC "Magnit" at the annual general shareholders
    meeting of PJSC "Magnit".

 3. Determination of PJSC "Magnit" business priorities.

 4. 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.

 5. 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 December 31,
2014, Magnit operated 27 distribution centers and over 9,700 stores (8,344
convenience, 287 hypermarkets, and 1,080 drogerie stores) in approximately
2,100 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the unaudited IFRS management accounts for 2014, Magnit had
revenues of RUB 764 billion and an EBITDA of RUB 86 billion. 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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