Krasnodar, June 2, 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 June 2, 2014 the Chairman of the Board of Directors made the decision to hold the BOD meeting on June 3, 2014 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”.
Formation 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”.
Formation 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 of JSC “Tander” owned by the Company.
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