Krasnodar, August 1, 2014: OJSC “Magnit”, Russia’s largest food retailer (the “Company”, MICEX and LSE: MGNT), held a Board of Directors (BoD) meeting on Thursday, July 31, 2014. Please see below for a summary of the results of that BoD meeting.

Date of EGM: The BoD set the date for the extraordinary general shareholders meeting (EGM) for Thursday, September 25, 2014 at 11:00 AM (MSK).
Dividends: The BoD put forward the recommendation to the EGM that OJSC “Magnit” make a dividend payment to shareholders following the "6 months of 2014 financial year results":
Total amount of Dividends — 7,404,154,096.50 rubles
Amount of Dividends per Share — 78.3 rubles
Divided Record Date: October 10, 2014.
EGM Record Date: August 12, 2014.
Shareholder Public Notification of EGM: Prior to August 25, 2014.
To provide access to the information materials which will be presented to the shareholders within the period of preparation for the EGM, from September 4, 2014.

The full information on the results of the BoD meeting can be found in the Report on the material fact on decisions made by the issuer’s Board of directors of 31.07.2014 following the link http://www.magnit-info.ru/upload/iblock/bc8/bc857477a10a24850b64ebea2e64d277.pdf

Summary of the OJSC «Magnit» BoD meeting results