Holding of BoD Meeting

Press-release Krasnodar October 21, 2013 OJSC "Magnit" Announces the Holding of the BOD Meeting Krasnodar, October 21, 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 October 21, 2013 the Chairman of the Board of Directors made the decision tohold the BOD meeting on October 29, 2013 with the following agenda: 1. Determination of OJSC "Magnit" business priorities. 2. Approval of the related party transactions. 3. Determination of the amount of remuneration for the auditor's services. 4. On serving of the CEO (Chairman of the Management Board) of OJSC "Magnit" on the management body of the other organization. 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 by Sergey Galitskiy, thecompany is headquartered in the southern Russian city of Krasnodar. As ofSeptember 30, 2013, Magnit operates 19 distribution centers and over 7,600stores (6,783 convenience, 178 hypermarkets, and 685 cosmetics) in more than1,760 cities and towns throughout 7 federal regions of the Russian Federation. In accordance with the reviewed IFRS consolidated financial statements for 1H2013, Magnit had revenues of $8,796 million USD and an EBITDA of $890 millionUSD. 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 creditrating from Standard & Poor's of BB. Measured by market capitalization, Magnitis now Europe's 2nd largest retailer.