BOD Results

OJSC MAGNIT - BOD Results

PR Newswire

London, February 4

OJSC "Magnit" Announces the Results of the BOD Meeting

Krasnodar, February 4, 2013: OJSC "Magnit" (the "Company", "Issuer"; MICEX andLSE: MGNT) is pleased to announce the results of the BOD meeting held onFebruary 4, 2013.

Please be informed that today the BOD meeting was held (minutes of BOD meetingof OJSC "Magnit" are w/o No. of February 4, 2013).

The meeting agenda:

1. Consideration of proposals for inclusion as items on the agenda of the

annual general shareholders' meeting of OJSC "Magnit".

2. Consideration of proposals for the nomination of candidates to stand for

election to the board of directors, the revision commission and the

counting commission of OJSC "Magnit" at the annual general shareholders'

meeting of OJSC "Magnit".

3. Consideration of proposals for the nomination of candidates to stand for

election as the auditor of OJSC "Magnit" at the annual general

shareholders' meeting of OJSC "Magnit".

The following BOD members were present: A. Arutyunyan, S. Galitskiy, V.Butenko, K. Pombukhchan and A. Shkhachemukov.

A. Zayonts and A. Makhnev provided their written opinions on the items of theagenda of the BOD meeting of OJSC "Magnit".

The number of the BOD members participated in the meeting, including writtenopinions of A. Zayonts and A. Makhnev, amounts to not less than half of thenumber of the BOD members determined by the Charter of the Company.

Quorum to hold the BOD meeting with this agenda is present.

Content of the decisionsand voting results:

Item 1 on the agenda:

"To include the following item on the agenda of the annual generalshareholders' meeting of OJSC "Magnit" convened following the close of the 2012financial year and to ratify the wording of the decision on the item:

Wording of the agenda item of the Wording of the decision on the agenda

annual general shareholders' meeting item of the annual general

A. Arutyunyan - "for", V. Butenko - "for", S. Galitskiy - "for", A. Zayonts -"for", A. Makhnev - "for", K. Pombukhchan - "for", A. Shkhachemukov - "for".

The decision was made.

Item 2.1 on the agenda:

"To include the following candidates on the list of candidates for voting atthe election of the board of directors of OJSC "Magnit" at the annual generalshareholders' meeting of OJSC "Magnit" convened following the close of the 2012financial year:

A. Arutyunyan - "for", V. Butenko - "for", S. Galitskiy - "for", A. Zayonts -"for", A. Makhnev - "for", K. Pombukhchan - "for", A. Shkhachemukov - "for".

The decision was made.

Item 2.2 on the agenda:

"To include the following candidates on the list of candidates for voting atthe election of the board of directors of OJSC "Magnit" at the annual generalshareholders' meeting of OJSC "Magnit" convened following the close of the 2012financial year:

A. Arutyunyan - "for", V. Butenko - "for", S. Galitskiy - "for", A. Zayonts -"for", A. Makhnev - "for", K. Pombukhchan - "for", A. Shkhachemukov - "for".

The decision was made.

Item 2.3 on the agenda:

"To include the following candidates on the list of candidates for voting atthe election of the board of directors of OJSC "Magnit" at the annual generalshareholders' meeting of OJSC "Magnit" convened following the close of the 2012financial year:

A. Arutyunyan - "for", V. Butenko - "for", S. Galitskiy - "for", A. Zayonts -"for", A. Makhnev - "for", K. Pombukhchan - "for", A. Shkhachemukov - "for".

The decision was made.

Item 3 on the agenda:

"To include the following candidate on the list of candidates for voting at theelection of the auditor of OJSC "Magnit" at the annual general shareholders'meeting of OJSC "Magnit" convened following the close of the 2012 financialyear:

Full company name of the candidate: "Faber Leks" Limited Liability Company;

State registration data: Principal State Registration Number of the issuer1022301213197, Taxpayer Id. Number 2308052975;

Location: 144/2 Krasnykh Partizan street, Krasnodar, 350049, Krasnodar region;

Information on membership in the self-regulatory organization of auditors:certificate as of 15.02.2010 of membership in the Non-commercial partnership"The Moscow Audit Chamber" (Order of the Ministry of Finance of the RussianFederation № 578 as of 26.11.2009 on entering data on the Non-commercialpartnership "The Moscow Audit Chamber" into the state register of theself-regulatory organization of auditors), Principal Number of RegistrationEntry 10203002910."

Votes were cast as follows:

A. Arutyunyan - "for", V. Butenko - "for", S. Galitskiy - "for", A. Zayonts -"for", A. Makhnev - "for", K. Pombukhchan - "for", A. Shkhachemukov - "for".

The decision was made.

For further information, please contact:

Headquartered in the southern Russia city of Krasnodar, Magnit (LSE and MICEX:MGNT) is the holding company for a group of entities that operate in the retailtrade under the "Magnit" brand. The chain of "Magnit" stores is one of theleading food retail networks in Russia. As of December 31, 2012 the chainconsisted of 6,046 convenience stores, 126 hypermarkets, 20 "Magnit Family"stores and 692 cosmetics stores (drogerie) in 1,605 cities and towns throughoutthe Russian Federation.

Approximately two-thirds of the Magnit's stores are located in cities with apopulation of less than 500,000 inhabitants. Most of its stores are located inthe Southern, North-Caucasian, Central and Volga regions. The Company alsooperates stores in the North-Western, Urals and Siberian regions.

As of December 31, 2012 Magnit operated an in-house logistics system consistingof 18 distribution centers, employing automated stock replenishment systems anda fleet of 4,401 vehicles.

In accordance with the unaudited IFRS management accounts for 2012, Magnitrecorded consolidated revenues of approximately $14,430 billion USD and aconsolidated EBITDA of $1,524 million USD.