Holding of BoD Meeting

Press-release Krasnodar December 6, 2013 OJSC "Magnit" Announces the Holding of the BOD Meeting Krasnodar, December 6, 2013: OJSC "Magnit", Russia's largest retailer (the"Company", the "Issuer", MICEX and LSE: MGNT), is pleased to announce theholding of the Board of Directors meeting. On December 6, 2013 the Chairman of the Board of Directors made the decision tohold the BOD meeting on December 12, 2013 with the following agenda: 1. Informing of the Board of Directors of OJSC "Magnit" on the key provisions of the UK Bribery Act of 2010. 2. Making of the decision to pay the bonus to the person exercising the power of the chief executive officer of OJSC "Magnit" for the 2013 results. 3. 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. 4. Introduction (approval) of alterations to the Decision on the issue of non-convertible interest-bearing certified bonds of the 02 series to the bearer with the obligatory centralized custody. 5. Introduction (approval) of alterations to the Decision on the issue of non-convertible interest-bearing certified bonds of the 03 series to the bearer with the obligatory centralized custody. 6. Introduction (approval) of alterations 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. For further information, please contact: Timothy Post Director, Investor Relations Email: [email protected] Office: +7-861-277-4554 x7600 Mobile: +7-961-511-7678 Direct Line: +7-861-277-4562 Dina Svishcheva Deputy Director, Investor Relations Email: [email protected] Office: +7-861-277-45-54 x5101 Mobile: +7-961-511-0202 Direct Line: +7-861-277-4562 Company description: Magnit is Russia's largest retailer. Founded in 1994, the company isheadquartered in the southern Russian city of Krasnodar. As of September 30,2013, Magnit operated 19 distribution centers and over 7,600 stores (6,783convenience, 178 hypermarkets, and 685 cosmetics) in more than 1,760 cities andtowns throughout 7 federal regions of the Russian Federation. In accordance with its reviewed IFRS consolidated financial statements, Magnithad 1H 2013 revenues of $8.7 billion USD and an EBITDA of $890 million USD.Magnit's local shares are traded on the Moscow Stock Exchange (MICEX: MGNT) andits GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit ratingfrom Standard & Poor's of BB. Measured by market capitalization, Magnit is nowEurope's 2nd largest food retailer.