Krasnodar, June 29, 2010: OJSC “Magnit” (the “Company”; RTS, MICEX and LSE: MGNT) announces the results of the annual general shareholders’ meeting.

Type of the general meeting (annual, extraordinary) — annual general shareholders’ meeting;

Form of the general meeting — joint presence of shareholders to discuss the agenda items and make decisions on the voting items with preliminary submission (delivery) of voting bulletins prior to the general shareholders’ meeting;

Date and venue of the general meeting:

Date of the extraordinary general shareholders’ meeting: June 24, 2010.

Venue: conference room, 3rd floor, 15/5 Solnechnaya st., Krasnodar, Russia.

Completed bulletins were sent to the postal address: 15/5 Solnechnaya st., Krasnodar, Russia, 350072.

Quorum of the general meeting:

Number of votes of participants included in the list of persons entitled to participate in the general meeting:

Item № 1 “The ratification of the annual report, annual accounting report including the profit and loss statement of OJSC “Magnit” — 88,975,073 votes; Item № 2 “The distribution of profit and loss of OJSC ‘Magnit’ following the results of 2009 financial year” — 88,975,073 votes;

Item № 3 “Election of the Board of directors of OJSC ‘Magnit’” — 622,825,511 votes; Item № 4 “Election of the Audit committee of OJSC ‘Magnit’” — 52,013,316 votes; Item № 5 “Approval of the Auditor of OJSC ‘Magnit’” — 88,975,073 votes;

Item № 6 “Approval of the IFRS Auditor of OJSC ‘Magnit’” — 88,975,073 votes; Item № 7 “Election of the Counting Board of OJSC ‘Magnit’” — 88,975,073 votes;

Item № 8 “Ratification of the Charter of OJSC ‘Magnit’ in the new edition” — 88,975,073 votes;

Item № 9 “Ratification of the Regulations on collegial executive body (Management Board) of OJSC ‘Magnit’” — 88,975,073 votes; Item № 10 “Ratification of the Regulations on Board of directors of OJSC ‘Magnit’ in the new edition” — 88,975,073 votes;

Item № 11 “Ratification of the Regulations on sole executive body (Chief executive officer) of OJSC ‘Magnit’ in the new edition” — 88,975,073 votes; Item № 12 “Ratification of the Regulations on Audit committee of OJSC ‘Magnit’ in the new edition” — 88,975,073 votes;

Item № 13 “Ratification of the Regulations on General shareholders’ meeting of OJSC ‘Magnit’ in the new edition” — 88,975,073 votes.

Number of votes of participants included in the list of persons entitled to participate in the general meeting and having no interest in the transactions to be approved by the company:

Item № 14.1 “Approval of major related-party transactions” — 88,843,312 votes; Item № 14.2 “Approval of major related-party transactions” — 88,843,312 votes; Item № 14.3 “Approval of major related-party transactions” — 88,843,312 votes; Item № 14.4 “Approval of major related-party transactions” — 88,843,312 votes; Item № 15.1 “Approval of related-party transactions” — 88,843,312 votes;

Item № 15.2 “Approval of related-party transactions” — 88,843,312 votes; Item № 15.3 “Approval of related-party transactions” — 88,843,312 votes; Item № 15.4 “Approval of related-party transactions” — 88,843,312 votes;

Item № 15.5 “Approval of related-party transactions” — 88,843,312 votes; Item № 15.6 “Approval of related-party transactions” — 88,843,312 votes; Item № 15.7 “Approval of related-party transactions” — 88,843,312 votes; Item № 15.8 “Approval of related-party transactions” — 88,843,312 votes; Item № 15.9 “Approval of related-party transactions” — 88,843,312 votes.

Number of votes of shareholders participated in the general meeting and entitled to vote on the agenda items with specification whether there was a quorum for each item:

Item № 1: “The ratification of the annual report, annual accounting report including the profit and loss statement of OJSC ‘Magnit’” — 81,559,482 votes, quorum is present;

Item № 2 “The distribution of profit and loss of OJSC ‘Magnit’ following the results of 2009 financial year” — 81,559,482 votes, quorum is present; Item № 3 “Election of the Board of directors of OJSC ‘Magnit’” — 570,916,374 votes, quorum is present;

Item № 4 “Election of the Audit committee of OJSC ‘Magnit’” — 44,597,725 votes, quorum is present; Item № 5 “Approval of the auditor of OJSC ‘Magnit’” — 81,559,482 votes, quorum is present;

Item № 6 “Approval of the IFRS Auditor of OJSC ‘Magnit’” — 81,559,482 votes, quorum is present; Item № 7 “Election of the Counting Board of OJSC ‘Magnit’” — 81,559,482 votes, quorum is present;

Item № 8 “Ratification of the Charter of OJSC ‘Magnit’ in the new edition” — 81,559,482 votes, quorum is present;

Item № 9 “Ratification of the Regulations on collegial executive body (Management Board) of OJSC ‘Magnit’” — 81,559,482 votes, quorum is present; Item № 10 “Ratification of the Regulations on Board of directors of OJSC ‘Magnit’ in the new edition” — 81,559,482 votes, quorum is present;

Item № 11 “Ratification of the Regulations on sole executive body (Chief executive officer) of OJSC ‘Magnit’ in the new edition” — 81,559,482 votes, quorum is present; Item № 12 “Ratification of the Regulations on Audit committee of OJSC ‘Magnit’ in the new edition” — 81,559,482 votes, quorum is present;

Item № 13 “Ratification of the Regulations on General shareholders’ meeting of OJSC ‘Magnit’ in the new edition” — 81,559,482 votes, quorum is present; Item № 14.1 “Approval of major related-party transactions” — 81,427,721 votes, quorum is present;

Item № 14.2 “Approval of major related-party transactions” — 81,427,721 votes, quorum is present; Item № 14.3 “Approval of major related-party transactions” — 81,427,721 votes, quorum is present; Item № 14.4 “Approval of major related-party transactions” — 81,427,721 votes, quorum is present; Item № 15.1 “Approval of related-party transactions” — 81,427,721 votes, quorum is present;

Item № 15.2 “Approval of related-party transactions” — 81,427,721 votes, quorum is present; Item № 15.3 “Approval of related-party transactions” — 81,427,721 votes, quorum is present; Item № 15.4 “Approval of related-party transactions” — 81,427,721 votes, quorum is present; Item № 15.5 “Approval of related-party transactions” — 81,427,721 votes, quorum is present; Item № 15.6 “Approval of related-party transactions” — 81,427,721 votes, quorum is present; Item № 15.7 “Approval of related-party transactions” — 81,427,721 votes, quorum is present; Item № 15.8 “Approval of related-party transactions” — 81,427,721 votes, quorum is present; Item № 15.9 “Approval of related-party transactions” — 81,427,721 votes, quorum is present.

Quorum is present to make the decisions on all the agenda items of the annual general shareholders’ meeting of OJSC “Magnit”.

Item № 1: “The ratification of the annual report, annual accounting report including the profit and loss statement of OJSC ‘Magnit’”. Votes cast is as follows:

“for” — 72,547,568 votes which amounts to 88.95% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “against” — 27,944 votes which amounts to 0.03% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “abstained” — 9,181 votes which amounts to 0.01% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.

Item № 2 “The distribution of profit and loss of OJSC ‘Magnit’ following the results of 2009 financial year”.

Votes cast is as follows:

“for” — 72,584,692 votes which amounts to 88.99% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “against” — none;

“abstained” — none.

Item № 3 “Election of the Board of directors of OJSC ‘Magnit’”. Votes cast is as follows:

“for” — 419,524,022 votes which amounts to 73.48% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item;

“against all candidates” — 51,805,887 votes which amounts to 9.07% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item;

“abstained all candidates” — none.

Votes cast “for” the correspondent candidate is as follows:

Andrey Aroutunyan — 53,826,540 votes; Valery Butenko — 53,818,203 votes; Sergey Galitskiy — 62,850,437 votes; Alexander Zayonts — 60,190,096 votes; Alexey Makhnev — 68,596,091 votes;

Khachatur Pompukhchan — 53,817,790 votes; Dmitry Chenikov — 53,826,540 votes.

Item № 4 “Election of the Audit committee of OJSC ‘Magnit’”. Votes cast is as follows:

Roman Efimenko:

“for” — 35,577,827 votes which amounts to 79.77% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “against” — 45,109 votes which amounts to 0.1% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “abstained” — none.

Angela Udovichenko:

“for” — 35,577,827 votes which amounts to 79.77% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “against” — 45,109 votes which amounts to 0.1% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “abstained” — none;

Denis Fedotov:

“for” — 35,577,825 votes which amounts to 79.77% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “against” — 45,109 votes which amounts to 0.1% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “abstained” — none.

Item № 5 “Approval of the auditor of OJSC ‘Magnit’”. Votes cast is as follows:

“for” — 72,581,652 votes which amounts to 88.99% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “against” — 3,041 votes which amounts to 0.003% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “abstained” — none.

Item № 7 “Election of the Counting Board of OJSC ‘Magnit’”. Votes cast is as follows:

“for” — 72,584,693 votes which amounts to 88.99% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “against” — none;

“abstained” — none.

Item № 8 “Ratification of the Charter of OJSC ‘Magnit’ in the new edition”. Votes cast is as follows:

“for” — 72,582,393 votes which amounts to 88.99% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “against” — none;

“abstained” — 2,300 votes which amounts to 0.002% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.

Item № 9 “Ratification of the Regulations on collegial executive body (Management Board) of OJSC ‘Magnit’”. Votes cast is as follows:

“for” — 72,582,393 votes which amounts to 88.99% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “against” — none;

“abstained” — 2,300 votes which amounts to 0.002% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.

Item № 10 “Ratification of the Regulations on Board of directors of OJSC ‘Magnit’ in the new edition”. Votes cast is as follows:

“for” — 72,582,393 votes which amounts to 88.99% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “against” — none;

“abstained” — 2,300 votes which amounts to 0.002% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.

Item № 11 “Ratification of the Regulations on sole executive body (Chief executive officer) of OJSC ‘Magnit’ in the new edition”. Votes cast is as follows:

“for” — 59,184,803 votes which amounts to 72.56% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “against” — 13,157,689 votes which amounts to 16.13% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “abstained” — 2,301 votes which amounts to 0.002% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.

Item № 12 “Ratification of the Regulations on Audit committee of OJSC ‘Magnit’ in the new edition”. Votes cast is as follows:

“for” — 72,582,393 votes which amounts to 88.99% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “against” — none;

“abstained” — 2,300 votes which amounts to 0.002% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.

Item № 13 “Ratification of the Regulations on General shareholders’ meeting of OJSC ‘Magnit’ in the new edition”. Votes cast is as follows:

“for” — 72,582,393 votes which amounts to 88.99% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “against” — none;

“abstained” — 2,300 votes which amounts to 0.002% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.

Item № 14.1 “Approval of major related-party transactions”. Votes cast is as follows:

“for” — 71,098,675 votes which amounts to 80.02% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “against” — 502 votes which amounts to 0.0006% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.; “abstained” — 1,353,755 votes which amounts to 1.52% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.

Item № 14.2 “Approval of major related-party transactions”. Votes cast is as follows:

“for” — 71,098,677 votes which amounts to 80.02% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “against” — 500 votes which amounts to 0.0006% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.; “abstained” — 1,353,755 votes which amounts to 1.52% of the total votes of the shareholders participated in the general meeting entitled to vote on this item.

Item № 14.3 “Approval of major related-party transactions”. Votes cast is as follows:

“for” — 71,098,677 votes which amounts to 80.02% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “against” — 500 votes which amounts to 0.0006% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.; “abstained” — 1,353,755 votes which amounts to 1.52% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.

Item № 14.4 “Approval of major related-party transactions”. Votes cast is as follows:

“for” — 71,098,675 votes which amounts to 80.02% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “against” — 502 votes which amounts to 0.0006% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.; “abstained” — 1,353,755 votes which amounts to 1.52% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.

Item № 15.1 “Approval of related-party transactions”. Votes cast is as follows:

“for” — 71,098,677 votes which amounts to 80.02% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “against” — 500 votes which amounts to 0.0006% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.; “abstained” — 1,353,755 votes which amounts to 1.52% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.

Item № 15.2 “Approval of related-party transactions”. Votes cast is as follows:

“for” — 71,098,677 votes which amounts to 80.02% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “against” — 500 votes which amounts to 0.0006% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.; “abstained” — 1,353,755 votes which amounts to 1.52% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.

Item № 15.3 “Approval of related-party transactions”. Votes cast is as follows:

“for” — 71,098,675 votes which amounts to 80.02% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “against” — 502 votes which amounts to 0.0006% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.; “abstained” — 1,353,755 votes which amounts to 1.52% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.

Item № 15.4 “Approval of related-party transactions”. Votes cast is as follows:

“for” — 71,098,675 votes which amounts to 80.02% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “against” — 502 votes which amounts to 0.0006% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.; “abstained” — 1,353,755 votes which amounts to 1.52% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.

Item № 15.5 “Approval of related-party transactions”. Votes cast is as follows:

“for” — 71,098,677 votes which amounts to 80.02% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “against” — 500 votes which amounts to 0.0006% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.; “abstained” — 1,353,755 votes which amounts to 1.52% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.

Item № 15.6 “Approval of related-party transactions”. Votes cast is as follows:

“for” — 71,098,677 votes which amounts to 80.02% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “against” — 500 votes which amounts to 0.0006% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.; “abstained” — 1,353,755 votes which amounts to 1.52% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.

Item № 15.7 “Approval of related-party transactions”. Votes cast is as follows:

“for” — 71,098,677 votes which amounts to 80.02% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “against” — 500 votes which amounts to 0.0006% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.; “abstained” — 1,353,755 votes which amounts to 1.52% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.

Item № 15.8 “Approval of related-party transactions”. Votes cast is as follows:

“for” — 71,098,677 votes which amounts to 80.02% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “against” — 500 votes which amounts to 0.0006% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.; “abstained” — 1,353,755 votes which amounts to 1.52% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.

Item № 15.9 “Approval of related-party transactions”. Votes cast is as follows:

“for” — 71,098,677 votes which amounts to 80.02% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item; “against” — 500 votes which amounts to 0.0006% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.; “abstained” — 1,353,755 votes which amounts to 1.52% of the total votes of the shareholders participated in the general meeting and entitled to vote on this item.

Decisions made by the general meeting. Decision on the agenda item № 1:

“To ratify OJSC ‘Magnit’ 2009 annual report and annual financial statements including profit and losses statements (profit and loss accounts) of OJSC ‘Magnit’ over the year 2009”.

Decision on the agenda item № 2:

“To approve the profit distribution of OJSC “Magnit” according to 2009 financial year results as follows:

To pay dividends on ordinary registered shares of OJSC “Magnit” in the amount of 895,089,234.38 rubles that is 10.06 rubles on one share; To pay dividends in the following order:

To determine dividend payment period — within sixty days from the moment of the correspondent decision of the general shareholders’ meeting;
To pay dividends in the money form by involving the Registrar of the Company — OJSC “Obiedinennaya registratsionnaya kompaniya” (15A, Kalanchevskaya street, Moscow) as the entity rendering services on dividend payment;
In case of return of the transferred dividends to OJSC “Magnit” as the result of incorrect bank details contained in the OJSC “Magnit” shareholders register, or as the result of death of a shareholder to effect the repeated dividend payment after submitting to OJSC “Obiedinennaya registratsionnaya kompaniya” the information on changes of bank details and including the correspondent changes to OJSC “Magnit” shareholders register;
In case of return of dividends sent by means of mail transfers, to effect the repeated dividend payment by means of bank transfer after submitting to OJSC “Obiedinennaya registratsionnaya kompaniya” the information on bank details and including to OJSC “Magnit” shareholders register;
All expenses on dividend transfer by any mean to effect at costs of OJSC “Magnit”;
The list of persons entitled to receive dividends shall be made as of the date of list of persons entitled to participate in OJSC “Magnit” annual general shareholders’ meeting — May 07, 2010.

To pay fees to Board members in the following amount:

to pay fees for participation in the Board working process in the amount determined in “Regulations on the Board of directors of OJSC ‘Magnit’;
The fee according to results of the year shall not be paid;

Not to pay the fee for the members of the Audit Committee of the Company;
To direct a part of profit in the amount of 8,594.12 rubles to organization of the reserve fund of the Company;
To distribute the rest of undistributed net profit to efficient development of the Company.”

Decision on the agenda item № 3:

“To elect the following candidates to the Board of directors of OJSC ‘Magnit’:

Andrey Aroutunyan;
Valery Butenko;
Alexander Zayonts;
Sergey Galitsky;
Alexey Makhnev;
Khachatur Pombukhchan;
Dmitry Chenikov”.

Decision on the agenda item № 4:

“To elect the following candidates to the Revisory Committee of OJSC ‘Magnit’:

Roman Efimenko;
Angela Udovichenko;
Denis Fedotov.”

Decision on the agenda item № 5:

“To approve limited liability company “Auditing firm ‘Faber Lex’ (taxpayer individual code 2308052975) as the Russian accounting standards auditor of OJSC ‘Magnit’”.

Decision on the agenda item № 6:

“To approve ZAO ‘Deloitte & Touche’ (ZAO ‘Deloitte & Touche CIS’), legal address: building 2, 4/7 Vozdvizhenka street, Moscow, Russia, 125009, as the International accounting standards auditor of OJSC ‘Magnit’”.

Decision on the agenda item № 7:

“To authorize open joint-stock company ‘Obiedinennaya registratsionnaya kompaniya’ (OJSC ‘ORK’), located at 15A, Kalanchevskaya street, Moscow, 107078, acting on the basis of the license for carrying out activities of professional participant of the securities market on Registrar Services (number of license: 10-000-1-00314 issued by FFMS of Russia on March 30, 2004, validity period: non-expiry-type license), maintaining the register of OJSC ‘Magnit’ shareholders, for carrying out activities of Counting Board”.

Decision on the agenda item № 8:

“To ratify the Charter of OJSC ‘Magnit’ in the new edition”.

Decision on the agenda item № 9:

“To ratify the Regulations on collegial executive body (Management Board) of OJSC ‘Magnit’”.

Decision on the agenda item № 10:

“To ratify the Regulations on Board of directors of OJSC ‘Magnit’ in the new edition”.

Decision on the agenda item № 11:

“To ratify the Regulations on sole executive body (Chief executive officer) of OJSC ‘Magnit’ in the new edition”.

Decision on the agenda item № 12:

“To ratify the Regulations on Revision Committee of OJSC ‘Magnit’ in the new edition”.

Decision on the agenda item № 13:

“To ratify the Regulations on General shareholders’ meeting of OJSC ‘Magnit’ in the new edition”.

Decision on the agenda item № 14.1:

“To ratify the major interested-party transaction, contract of guarantee planned for signing by the Company (the Guarantor) in future as a security for the performance of CJSC “Tander” obligations (the beneficiary) (hereinafter — the Borrower) before Open joint-stock company “ALFA-BANK” (hereinafter — the Lender) under the Agreement on crediting in Russian rubles (hereinafter — the Agreement) on the basis of the following terms of the Agreement planned for signing by the Borrower in future:

under the Agreement the Borrower is entitled to obtain credits under which nonrevolving indebtedness shall not exceed 4,000,000,000 (four billion) Russian rubles (limit of the indebtedness);
the Borrower is entitled to obtain credits under additional agreement to the Agreement within the period expiring September 23, 2014, including the last date of the period;
credits maturity date: not later September 23, 2014;
credits under the Agreement shall be presented for the period not exceeding 48 (forty eight) months;
credits under the Agreement are to be payable monthly in equal amounts. Date of the first payment shall fall not later than 36 months on after the date of credit granting ;
the credit interest rate shall not exceed 20% (twenty per cent) per year;
penalties: 0.2% a day of the amount of outstanding obligation for each day of delay, but not less than double refinancing rate of Central bank of RF in effect on the day when charged penalties;

The limit (amount) of contract of guarantee: The Guarantor shall be responsible before the Lender in case on default in or improper performance of the Borrower’s obligations under the Agreement, including the main debt, interests, penalties and losses incurred by the Lender as the result of default in or improper performance of the Agreement.

The price of the property with the possible disposal the provision of guarantee is connected amounts to 25% but does not exceed 50% of the balance sheet assets of the Company determined on the basis of the accounting reports for the last accounting period.

Hereby to authorize S. N. Galitsky to sign additional agreements on Agreement amendments (including, but not limited to, change of interest rates, change of credit currency, and term of credit)".

Decision on the agenda item № 14.2:

“To approve contracts of guarantee planned for signing by the Company (the Guarantor) in future as a security for the performance of CJSC “Tander” obligations (the beneficiary) (hereinafter — the Borrower) before Commercial joint-stock Saving Bank of Russian Federation (open joint-stock company) (hereinafter — the Lender) under the Agreement on revolving and non-revolving facilities (hereinafter — the Agreement) on the basis of the following conditions:

credit limit under all Credit Agreements planned for signing by the Borrower in future shall not exceed 20,000,000,000 (twenty billion) rubles;
credit shall be granted for the period of 5 (five) years;
credit interest rate including commission fees shall not exceed 11.3% (eleven point three) per cent per year;
credit conditions, credit granting and payment scheme, interests and other payments shall be determined under the correspondent Credit Agreements;
the Lender’s obligations shall be partially secured by presenting the guarantee by the Company;
the total limit of the Company’s obligations from the provided security on any date of the Credit Agreements validity shall not exceed 14,040,000,000 (fourteen billion forty million) rubles.

The price of the property with the possible disposal the provision of guarantee is connected amounts to 25% but does not exceed 50% of the balance sheet assets of the Company determined on the basis of the accounting reports for the last accounting period.

Hereby to authorize S. N. Galitsky to sign additional agreements on Agreement amendments (including, but not limited to, change of interest rates, change of credit currency, and term of credit)".

Decision on the agenda item № 14.3:

“To approve related -party contracts of guarantee planned for signing by the Company (the Guarantor) in future as a security for the performance of CJSC “Tander” obligations (the beneficiary) (hereinafter — the Borrower) before open joint-stock company “Nordea Bank” (hereinafter — the Bank) under Credit Agreements planned for signing in future on the basis of the following conditions:

credit extension form: one-time loan or limited credit facility or drawdown limit credit facility;
purpose of credit: working capital refinancing and/or financing of common corporate and investment purposes;
credit maturity: not more than 4 years;
total amount of credit limit/one-time credits: not more than 8,000,000,000 (eight billion)rubles;
credit use interest rate: not more than 12% (twelve per cent) per year;
Conditions, extension and payment terms, interest rates and other fees shall be determined under the correspondent Credit Agreements.

The limit (amount) of contract of guarantee: The Guarantor shall be responsible before the Lender in case on default in or improper performance of the Borrower’s obligations under the Agreement, including the main debt, interests, penalties and losses incurred by the Lender as the result of default in or improper performance of the Agreement.

The price of the property with the possible disposal the provision of guarantee is connected amounts to 25% but does not exceed 50% of the balance sheet assets of the Company determined on the basis of the accounting reports for the last accounting period.

Hereby to authorize S. N. Galitsky to sign additional agreements on Agreement amendments (including, but not limited to, change of interest rates, change of credit currency, and term of credit“.

Decision on the agenda item № 14.4:

“To approve related party loan agreement (several associated loan agreements) planned for signing in future with CJSC ‘Tander’ under the following essentials:

parties of the transaction (transactions): the Lender — OJSC ‘Magnit’, the Borrower — CJSC ‘Tander’;
subject of the transaction (transactions): money loan;
limit of transaction (transactions): up to 8,500,000,000 (eight billion five hundred million) rubles;
loan interest rate: not more than 12% (twelve per cent) per year;
deadline for the fulfillment of the obligation under transaction (transactions): up to 5 (five) years from the moment of repayment of the loan amount and interest by the Borrower.

The price of the property with the possible disposal the provision of guarantee is connected amounts to 25% but does not exceed 50% of the balance sheet assets of the Company determined on the basis of the accounting reports for the last accounting period”.

Decision on the agenda item № 15.1:

“To approve related party contracts of guarantee planned for signing by the Company (the Guarantor) in future as a security for the performance of CJSC “Tander” obligations (the beneficiary) (hereinafter — the Borrower) before VTB Bank (open joint-stock company) (hereinafter — the Lender) under the Credit Agreements planned for signing by the Borrower in future on the basis of the following conditions:

The Lender shall extend the Borrower the Credit under the Credit Agreements for the purposes of refinancing of working capital with the total limit amount not exceeding 5,000,000,000 (five billion) rubles and the Borrower shall repay the Lender extended credit under terms and conditions of Credit Agreements;
The credit shall be extended for the period up to 3 (three) years;
Credit interest rate shall not exceed 12% (twelve per cent) per year;
Conditions, extension and payment terms (including any fees payable by the Borrower) shall be determined under the correspondent Credit Agreements.
The limit (amount) of contract of guarantee: The Guarantor shall be responsible before the Lender in case on default in or improper performance of the Borrower’s obligations under the Agreement, including the main debt, interests, penalties and losses incurred by the Lender as the result of default in or improper performance of the Agreement.

The price of the property with the possible disposal the provision of guarantee is connected amounts to 2% but does not exceed 25% of the balance sheet assets of the Company determined on the basis of the accounting reports for the last accounting period

Hereby to authorize S. N. Galitsky to sign additional agreements on Agreement amendments (including, but not limited to, change of interest rates, change of credit currency, and term of credit)".

Decision on the agenda item № 15.2:

“To approve related party contracts of guarantee planned for signing by the Company (the Guarantor) in future as a security for the performance of CJSC “Tander” obligations (the beneficiary) (hereinafter — the Borrower) before Commercial joint-stock bank “Moscow Bank for Reconstruction and Development” (open joint-stock company) (hereinafter — the Lender) under the Agreement on revolving and non-revolving facilities (hereinafter — the Agreement) planned fro signing by the Borrower in future on the basis of the following conditions:

The Lender shall extend the Borrower the Credit under the Credit Agreements for the purposes of refinancing of working capital with the total limit amount not exceeding 1,500,000,000 (one billion five hundred million) rubles and the Borrower shall repay the Lender extended credit under terms and conditions of Credit Agreements;
The credit shall be extended for the period up to 2 (two) years;
Credit interest rate shall not exceed 12 % (twelve per cent) per year;
Conditions, extension and payment terms (including any fees payable by the Borrower) shall be determined under the correspondent Credit Agreements.
The limit (amount) of contract of guarantee: The Guarantor shall be responsible before the Lender in case on default in or improper performance of the Borrower’s obligations under the Agreement, including the main debt, interests, penalties and losses incurred by the Lender as the result of default in or improper performance of the Agreement.

The price of the property with the possible disposal the provision of guarantee is connected amounts to 2% but does not exceed 25% of the balance sheet assets of the Company determined on the basis of the accounting reports for the last accounting period".

Hereby to authorize S. N. Galitsky to sign additional agreements on Agreement amendments (including, but not limited to, change of interest rates, change of credit currency, and term of credit)".

Decision on the agenda item № 15.3:

“To approve related party contracts of guarantee planned for signing by the Company (the Guarantor) in future as a security for the performance of CJSC “Tander” obligations (the beneficiary) (hereinafter — the Borrower) before Commercial joint-stock bank “Absolut Bank” (close joint-stock company) (hereinafter — the Lender) under the Agreement on revolving and non-revolving facilities (hereinafter — the Agreement) planned fro signing by the Borrower in future on the basis of the following conditions:

The Lender shall extend the Borrower the Credit under the Credit Agreements for the purposes of refinancing of working capital, development of the retail chain, including acquisition of real and movable property, non-material assets, and/or financing of capital repair and technical modernization, with the total limit amount not exceeding 4,000,000,000 (four billion) rubles and the Borrower shall repay the Lender extended credit under terms and conditions of Credit Agreements;
The credit shall be extended for the period up to 36 (thirty six) months;
Credit interest rate shall not exceed 22% (twenty two per cent) per year;
Conditions, extension and payment terms (including any fees payable by the Borrower) shall be determined under the correspondent Credit Agreements.
The limit (amount) of contract of guarantee: The Guarantor shall be responsible before the Lender in case on default in or improper performance of the Borrower’s obligations under the Agreement, including the main debt, interests, penalties and losses incurred by the Lender as the result of default in or improper performance of the Agreement.

The price of the property with the possible disposal the provision of guarantee is connected amounts to 2% but does not exceed 25% of the balance sheet assets of the Company determined on the basis of the accounting reports for the last accounting period.

Hereby to authorize S. N. Galitsky to sign additional agreements on Agreement amendments (including, but not limited to, change of interest rates, change of credit currency, and term of credit)“.

Decision on the agenda item № 15.4:

“To approve related party contracts of guarantee planned for signing by the Company (the Guarantor) in future as a security for the performance of CJSC ‘Tander’ obligations (the beneficiary) (hereinafter — the Borrower) before Commercial bank ‘Petrocommerce’ (open joint-stock company) (hereinafter — the Lender) under the Agreement on revolving and non-revolving facilities (hereinafter — the Agreement) planned fro signing by the Borrower in future on the basis of the following conditions:

The Lender shall extend the Borrower the Credit under the Credit Agreements for the purposes of refinancing of working capital with the total limit amount not exceeding 3,000,000,000 (three billion) rubles and the Borrower shall repay the Lender extended credit under terms and conditions of Credit Agreements;
The credit shall be extended for the period up to 1 (one) year;
Credit interest rate shall not exceed 20% (twenty per cent) per year;
Conditions, extension and payment terms (including any fees payable by the Borrower) shall be determined under the correspondent Credit Agreements”.
The limit (amount) of contract of guarantee: The Guarantor shall be responsible before the Lender in case on default in or improper performance of the Borrower’s obligations under the Agreement, including the main debt, interests, penalties and losses incurred by the Lender as the result of default in or improper performance of the Agreement.

The price of the property with the possible disposal the provision of guarantee is connected amounts to 2% but does not exceed 25% of the balance sheet assets of the Company determined on the basis of the accounting reports for the last accounting period.

Hereby to authorize S. N. Galitsky to sign additional agreements on Agreement amendments (including, but not limited to, change of interest rates, change of credit currency, and term of credit)".

Decision on the agenda item № 15.5:

“To approve related party contracts of guarantee planned for signing by the Company (the Guarantor) in future as a security for the performance of CJSC “Tander” obligations (the beneficiary) (hereinafter — the Borrower) before close joint-stock company “Credit Europe Bank” (hereinafter — the Lender) under the Agreement on revolving and non-revolving facilities (hereinafter — the Agreement) planned fro signing by the Borrower in future on the basis of the following conditions:

The Lender shall extend the Borrower the Credit under the Credit Agreements for the purposes of refinancing of working capital with the total limit amount not exceeding 1,000,000,000 (one billion) rubles and the Borrower shall repay the Lender extended credit under terms and conditions of Credit Agreements;
The credit shall be extended for the period up to 1 (one) year;
Credit interest rate shall not exceed 12 % (twelve per cent) per year;
Conditions, extension and payment terms (including any fees payable by the Borrower) shall be determined under the correspondent Credit Agreements.
The limit (amount) of contract of guarantee: The Guarantor shall be responsible before the Lender in case on default in or improper performance of the Borrower’s obligations under the Agreement, including the main debt, interests, penalties and losses incurred by the Lender as the result of default in or improper performance of the Agreement.

The price of the property with the possible disposal the provision of guarantee is connected amounts to 2% but does not exceed 25% of the balance sheet assets of the Company determined on the basis of the accounting reports for the last accounting period.

Hereby to authorize S. N. Galitsky to sign additional agreements on Agreement amendments (including, but not limited to, change of interest rates, change of credit currency, and term of credit)".

Decision on the agenda item № 15.6:

“To approve related party contracts of guarantee planned for signing by the Company (the Guarantor) in future as a security for the performance of CJSC “Tander” obligations (the beneficiary) (hereinafter — the Borrower) before Commercial joint-stock bank (close joint-stock company) (hereinafter — the Lender) under the Agreement on revolving and non-revolving facilities or under contracts within framework agreement on financing and under the overdraft credit agreement on the basis of the allowing conditions:

The crediting shall be effected in the form of revolving (non-revolving) facilities and/or in the form of credit agreements entered into under the Framework Agreements on financing with the total limit not exceeding 3,000,000,000 (three billion) Russian rubles or the equivalent of the amount in US Dollars or Euro calculated subject to the rate of Bank of Russia as of the date of presenting of financing and in form of crediting of bank account (overdraft) with the limit of overdraft not exceeding 300,000,000 (three hundred million) rubles.

The total amount of maximum indebtedness under the contracts of revolving and non-revolving facilities entered into under the Framework Agreements shall not exceed 3,000,000,000 (three billion) Russian rubles or the equivalent amount in US dollars or Euro calculated subject to the rate of Bank of Russia as of the date of presenting of financing on any date of credit validity.

The total amount of fees payable under revolving (non-revolving) facilities and/or under credit agreements made under the Framework Agreements shall not exceed 3,000,000,000 (three billion) Russian rubles.

In case of crediting in the form of Framework Agreement on financing:

Subject of Framework Agreement on financing (hereinafter — the Agreement):

The Lender may at the Borrower’s request in its sole discretion and without any obligation to extend the Borrower the financing for the purposes of refinancing of working capital with the limit from 1,000,000,000 (One billion) rubles up to 3,000,000,000 (three billion) Russian rubles (inclusive) or the equivalent amount in US dollars or Euro calculated subject to the rate of Bank of Russia as of the date of presenting of financing under the terms set by the correspondent Credit Agreement or Credit Agreements. For entering into the Credit Agreements the Parties shall coordinate the essentials of each credit contract, in particular: credit amount, term of credit, interest rate, security and other conditions and obligations of the Parties.

The Agreement shall be effective from the moment of it’s signing and is valid for the period of 24 (twenty four) months. Subject of Credit contracts secured by the Guarantee of the Company:

Within the period of Agreement the Borrower may enter into Credit Agreements under the following essentials:

The amount of credit under each Credit contract shall not exceed 3,000,000,000 (three billion) Russian rubles (inclusive) or the equivalent of the amount in US Dollars or Euro calculated subject to the rate of Bank of Russia as of the date of presenting of financing, the total amount of indebtedness under all Credit contracts entered into under the Agreement shall not exceed the limit of financing set in the Agreement.

Term of credit under each Credit contract shall not exceed 24 (twenty four) months;

The interest rate under each Credit contract shall not exceed 12 (twelve per cent) per year;

The fee under each Credit contract shall not exceed 1 (one per cent) of the credit amount. Total fees amount paid under the Credit contract made under the Agreement shall not exceed 30,000,000 (thirty million) rubles.

In case of crediting in the form of revolving (non-revolving) facilities:

Subject of the Contract of revolving (non-revolving) facility (hereinafter — the Contract):

The maximum amount of non-recurrent indebtedness under the contract (-s) of revolving (non-revolving) facility (facility limit) may amount to 1,000,000,000 (one billion) rubles and shall not exceed 3,000,000,000 (three billion) Russian rubles (inclusive) or the equivalent amount in US dollars or Euro calculated subject to the rate of Bank of Russia as of the date of presenting of financing.

The crediting is effecting in the form of Separate Credits under the credit facility.

The term of Contract shall not exceed 24 (twenty four) months, beginning from the date of signing of the Contract Every Separate Credit shall be presented for the period up to 24 (twenty four) months of presenting of the Separate Credit that should be a bank day.

Interest rate: for the Separate Credit use the Borrower shall ay to the Lender interests in the amount of MOSIBOR rate multiplied by Bank margin or BSGV rate on rubles multiplied by Bank margin. The interest rate (including Bank margin) shall not exceed 12% (twelve per cent) per year.

The period for which the interest rate is determined for each separate Credit: 2 (two) weeks or 1 (one) or 2 (two) or 3 (three) or 6 (six) or 9 (nine) or 12 (twelve) months.

The nonrecurring fee for credit extending: shall not exceed 1 (one) per cent of the amount of the Separate Credit. Meanwhile the total amount of fees paid under the Contract (-s) of revolving (non-revolving) facilities shall not exceed 30,000,000 (thirty million) rubles.

Penalty: double refinancing rate of Central Bank of Russian Federation effective as of the correspondent period for every day of delay in payment. In case of entering into Additional Agreement to the Contract of Bank account (overdraft) (hereinafter — the overdraft Agreement):

Subject of the Additional Agreement to the Contract of Bank account (overdraft):

.Credit limit: 300,000,000 (three hundred million) rubles;
.Agreement on overdraft term: not more than 24 (twenty four) months from the date of signing of the overdraft Agreement;
.Interest rate: for the credit use the Client shall pay to the Bank the interests in the amount of BSGV rate on Russian rubles multiplied by Bank margin. The interest rate (including bank margin) shall not exceed 12% (twelve per cent) per year;
.maximum terms of the continuous indebtedness under credit: 1 (one) months;
.credit extension fee: not more than 1% of the Credit limit, one-time payment;
.Penalty: shall be charged on the not matured outstanding indebtedness in the amount of double Central Bank refinancing rate for every day of delay. The limit of contracts of guarantee under all forms of crediting:

The Guarantor shall be absolutely, irrevocably and jointly responsible before the Lender in case on default in or improper performance of the Borrower’s obligations under the Agreements on revolving (non-revolving) facilities or credit agreements made under the Framework agreement on financing and under the bank account crediting (overdraft), including the main debt, interests, penalties and losses incurred by the Lender as the result of default in or improper performance of the Agreement.

The price of the property with the possible disposal the provision of guarantee is connected amounts to 2% but does not exceed 25% of the balance sheet assets of the Company determined on the basis of the accounting reports for the last accounting period

Hereby to authorize S. N. Galitsky to sign additional agreements on Agreement amendments (including, but not limited to, change of interest rates, change of credit currency, and term of credit)."

Decision on the agenda item № 15.7:

“To approve related party contracts of guarantee planned for signing by the Company (the Guarantor) in future as a security for the performance of CJSC “Tander” obligations (the beneficiary) (hereinafter — the Borrower) before joint-stock bank “Sodeystvie Obshestvennym Initsiativam” (open joint-stock company) (hereinafter — the Lender) under the Agreement on revolving and non-revolving facilities (hereinafter — the Agreement) planned fro signing by the Borrower in future on the basis of the following conditions:

The Lender shall extend the Borrower the Credit under the Credit Agreements for the purposes of refinancing of working capital with the total limit amount not exceeding 3,000,000,000 (three billion) rubles and the Borrower shall repay the Lender extended credit under terms and conditions of Credit Agreements;
The credit shall be extended for the period up to 3 (three) years;
Credit interest rate shall not exceed 12 % (twelve per cent) per year;
Conditions, extension and payment terms (including any fees payable by the Borrower) shall be determined under the correspondent Credit Agreements.
The limit (amount) of contract of guarantee: The Guarantor shall be responsible before the Lender in case on default in or improper performance of the Borrower’s obligations under the Agreement, including the main debt, interests, penalties and losses incurred by the Lender as the result of default in or improper performance of the Agreement.

The price of the property with the possible disposal the provision of guarantee is connected amounts to 2% but does not exceed 25% of the balance sheet assets of the Company determined on the basis of the accounting reports for the last accounting period

Hereby to authorize S. N. Galitsky to sign additional agreements on Agreement amendments (including, but not limited to, change of interest rates, change of credit currency, and term of credit).“

Decision on the agenda item № 15.8:

“To approve related-party transaction — the contract of guarantee planned for signing by the Company in future (hereinafter — the Guarantor)” as a security for the performance of CJSC “Tander” obligations (the beneficiary) (hereinafter — the Borrower) before open joint-stock bank “ALFA-BANK” (open joint-stock company) (hereinafter — the Lender) under the Agreement on crediting in Russian rubles (hereinafter — the Agreement) planned fro signing by the Borrower in future on the basis of the following conditions:

Under the Agreement the Borrower is entitled to get credits, the non-recurrent indebtedness on any day of the Agreement shall not exceed 2,000,000,000 (two billion) Russian rubles (limit of the indebtedness);
The Borrower is entitled to get credits under additional Agreements to the Agreement within the period expiring on March 23, 2012, including the last day of the period;
payment period of credits extended under the Agreement: not later than March 23, 2010;
credits under the Agreement shall be extended for the period not exceeding 18 (eighteen) months;
Credit use interest rate shall not exceed 20% twenty per cent( per year);
penalties: 0.2% per day of the amount of the outstanding obligation for every day of delay in payment of indebtedness, but not less than double refinancing rate of Central Bank of Russian Federation effective as of the day of penalty accrual;

The limit (amount) of contract of guarantee: The Guarantor shall be responsible before the Lender in case on default in or improper performance of the Borrower’s obligations under the Agreement, including the main debt, interests, penalties and losses incurred by the Lender as the result of default in or improper performance of the Agreement.

The price of the property with the possible disposal the provision of guarantee is connected amounts to 2% but does not exceed 25% of the balance sheet assets of the Company determined on the basis of the accounting reports for the last accounting period.

Hereby to authorize S. N. Galitsky to sign additional agreements on Agreement amendments (including, but not limited to, change of interest rates, change of credit currency, and term of credit).“

Decision on the agenda item № 15.9:

“To approve interested party loan agreement (several associated loan agreements) planned for signing in future with LLC ‘Selta’ under the following essentials:

parties of the transaction (transactions): the Lender — OJSC ‘Magnit’, the Borrower — LLC ‘Selta’;
subject of the transaction (transactions): money loan;
limit of transaction (transactions): up to 1,000,000,000 (one billion ) rubles;
loan interest rate: not more than 12% (twelve per cent) per year;
deadline for the fulfillment of the obligation under transaction (transactions): up to 5 (five) years from the moment of repayment of the loan amount and interest by the Borrower.

The price of the property with the possible disposal the provision of guarantee is connected amounts to 2% but does not exceed 25% of the balance sheet assets of the Company determined on the basis of the accounting reports for the last accounting period”.

The minutes were executed as of June 28, 2010.

OJSC “Magnit” announces AGM results