Magnit CEO Sergey Galitskiy Named Best Corporate Manager

OJSC MAGNIT - Magnit CEO Sergey Galitskiy Named Best Corporate Manager

PR Newswire

London, December 12

Magnit CEO Sergey Galitskiy Named Best Corporate Manager

Magnit CEO Sergey Galitskiy has been named the winner of the Award: "Russianleaders in corporate governance." This is Mr. Galitskiy's third nomination forthe "Best corporate manager" at the annual Corporate Governance roundtable ofthe Investor Protection Association (IPA). OJSC "Magnit" has also won the Awardfor the "Company with the best corporate governance" for the second consecutivetime.

The Investor Protection Association (IPA) was established in April 2000 tounite efforts of investors aimed at protecting their rights and improvement ofcorporate governance in Russia. Among the members of the Association there areRussian and foreign investors with a cumulative volume of investment in theRussian economy of over US$ 25 bn and considerable experience of operations inthe Russian market.

IPA members are Alfa Bank, ATON, Vostok Nafta Investment Ltd, VFP, DartManagement, Deutsche Bank AG, EOS Russia, Equinox Fund Management, ICRuss-Invest, East Capital Asset Management, Kazimir Partners, KIT-Finance, NCHAdvisors, ОМЗ, PPF BETA Ltd., Parus Capital Limited, Industrial Investors,Prosperity Capital Management, Renaissance Capital, SUN Capital Partners,Templeton Asset Management, Leader Management Company, Uralsib ManagementCompany, Philip Morris Marketing and Sales, Hermitage Capital Management,Fleming Family & Partners.

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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 September 30, 2012 the chainconsisted of 5,523 convenience stores, 105 hypermarkets, 11 "Magnit Family"stores and 480 cosmetics stores (drogerie) in 1,504 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 September 30, 2012 Magnit operated an in-house logistics systemconsisting of 17 distribution centers, employing automated stock replenishmentsystems and a fleet of 4,082 vehicles.

In accordance with the reviewed IFRS consolidated financial statements for 1H2012, the Magnit recorded consolidated revenues of approximately $6.7 billionUSD and a consolidated EBITDA of $671 million USD.

Sergey Galitskiy also won the "Russian corporate governance leaders - 2009" and"Russian corporate governance leaders - 2011" awards in the same nomination