Holding of BOD

Press-release Krasnodar June 17, 2013 OJSC "Magnit" Announces the Holding of the BOD Krasnodar, June 17, 2013: OJSC «Magnit» (the "Company"; MICEX and LSE: MGNT) ispleased to announce the holding of the Board of Directors meeting. On June 17, 2013 the Chairman of the Board of Directors made the decision tohold the BOD meeting on June 25, 2013 with the following agenda: 1. Election of the Chairman of the Board of Directors of OJSC "Magnit". 2. Election of the Deputy Chairman of the Board of Directors of OJSC "Magnit". 3. Election of the Secretary of the Board of Directors of OJSC "Magnit". 4. Formation of the audit committee of the Board of Directors of OJSC "Magnit". 5. Election of the Chairman of the audit committee of the Board of Directors of OJSC "Magnit". 6. Formation of the HR and remuneration committee of the Board of Directors of OJSC "Magnit". 7. Election of the Chairman of the HR and remuneration committee of the Board of Directors of OJSC "Magnit". 8. Election of the Management Board of OJSC "Magnit". 9. Determination of OJSC "Magnit" business priorities. 10. Adoption of the decision to place securities (exchange-traded bonds to bearer of the BO-10 series). 11. Adoption of the decision to place securities (exchange-traded bonds to bearer of the BO-11 series). 12. Approval of the Decision to issue securities (exchange-traded bonds to bearer of the BO-10 series). 13. Approval of the Decision to issue securities (exchange-traded bonds to bearer of the BO-11 series). 14. Approval of the Prospectus (exchange-traded bonds to bearer of the BO-10, BO-11 series). 15. Approval of the major transaction (several associated transactions) of placement of the exchange-traded bonds of the BO-10, BO-11 series by means of public subscription. 16. Determination of the position of the OJSC "Magnit" representative at the exercise of the voting right on shares of JSC "Tander" owned by the Company. For further information, please contact: Timothy Post Director, Investor Relations e-mail: [email protected] Tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 7600 Mob.: +7 (961) 511-76-78 Direct line for investors only: +7 (861) 277-45-62 Dina Svishcheva Deputy Director, Investor Relations e-mail: [email protected] Tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 5101 Mob.: +7-961-511-02-02 Direct line for investors only: +7 (861) 277-45-62 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 of March31, 2013, Magnit operates 18 distribution centers and over 7,000 stores (6,209convenience, 153 hypermarkets, and 713 cosmetics) in more than1,600 cities andtowns throughout 7 federal regions of the Russian Federation. In accordance with its audited IFRS consolidated financial statements foryear-end 2012, Magnit had revenues of $14.43 billion USD and an EBITDA of $1.52billion 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 hasa credit rating from Standard & Poor's of BB. Measured bymarket capitalization, Magnit is now Europe's 2nd largest retailer.