Krasnodar, April 15, 2014: OJSC “Magnit”, Russia’s largest food retailer (the “Company”, the “Issuer”, MICEX and LSE: MGNT), is pleased to announce the holding of the Board of Directors meeting.

On April 15, 2014 the Chairman of the Board of Directors made the decision to hold the BOD meeting on April 17, 2014 with the following agenda:

Approval of the list of candidates to be elected to the Board of Directors of the Company at the AGM of OJSC “Magnit”.
Approval of the form and the text of the voting ballot on the third agenda item to be considered at the AGM of OJSC “Magnit” “Election of the Board of directors of OJSC “Magnit”.
Approval of the related party transaction.
Determination of the position of the OJSC “Magnit” representative at the exercise of the voting right on the Retail Import LLC shares in the charter capital owned by the Company.

OJSC «Magnit» announces the holding of the BoD meeting