Krasnodar, June 6, 2012: OJSC “Magnit” (the “Company”; MICEX and LSE: MGNT) is pleased to announce the holding of the board of directors meeting.

On June 6, 2012 the acting Chairman (the Chairman of the previous BOD) of the board of directors made the decision to hold the BOD meeting on June 13, 2012 with the following agenda:

Election of the Chairman of the board of directors of OJSC “Magnit”.
Election of the Deputy Chairman of the board of directors of OJSC “Magnit”.
Election of the Secretary of the board of directors of OJSC “Magnit”.
Election of members of the audit committee of the board of directors of OJSC “Magnit”.
Election of the Chairman of the audit committee of the board of directors of OJSC “Magnit”.
Election of members of the HR and remuneration committee of the board of directors of OJSC “Magnit”.
Election of the Chairman of the HR and remuneration committee of the board of directors of OJSC “Magnit”.
Election of the Management board of OJSC “Magnit”.
Determination of the position of the OJSC “Magnit” representative at the exercise of the voting right on shares in the charter capital of JSC “Tander” owned by the Company.
Approval of the related party transactions.

OJSC “Magnit” announces the holding of the BOD meeting