Press-releaseKrasnodarAugust 1, 2014OJSC "Magnit" Announces the Results of the BOD Meeting, Including the Decisionto Call the EGM and Determination of the Record DateKrasnodar, August 1, 2014: OJSC "Magnit", Russia's largest food retailer (the"Company", "Issuer"; MICEX and LSE: MGNT), is pleased to announce the resultsof the BOD meeting held on July 31, 2014.Please be informed that on July 31, 2014 the BOD meeting was held (minutes ofthe BOD meeting of OJSC "Magnit" are w/o No. of July 31, 2014).The meeting agenda: 1. Approval of recommendations to the general shareholders meeting of the Company on the dividend amount on OJSC "Magnit" shares following the 6 months of 2014 financial year results, the procedure of its payment and the date as of which the shareholders entitled to receive dividends are determined. 2. Calling of the extraordinary general shareholders meeting ("the EGM") of OJSC "Magnit". 3. Approval of the agenda of the EGM of OJSC "Magnit". 4. Approval of the form of holding of the EGM of OJSC "Magnit". 5. Determination of the date, time and venue of the EGM of OJSC "Magnit" and the postal address to send the filled voting ballots. 6. Determination of the date of the list of shareholders entitled to participate in the EGM of OJSC "Magnit". 7. Approval of the form and the text of the voting ballots on the items to be considered at the EGM of OJSC "Magnit". 8. Approval of the procedure of notification of shareholders of the holding of the EGM of OJSC "Magnit". 9. Approval of the list of information (materials) provided to shareholders to prepare to the holding of the EGM of OJSC "Magnit", and the procedure of its provision.10. Determination of the recommended price for major related party transactions to be approved by the EGM of OJSC "Magnit".11. Determination of the recommended price for related party transactions to be approved by the EGM of OJSC "Magnit".12. Approval of the related party transactions.The following BOD members were present: S. Galitskiy, K. Pombukhchan andA. ShkhachemukovA. Arutyunyan, A. Zayonts, A. Makhnev and A. Pshenichniy and provided theirwritten opinions on the items of the agenda of the BOD meeting of OJSC"Magnit".The number of the BOD members participated in the meeting, including writtenopinions of A. Arutyunyan, A. Zayonts, A. Makhnev and A. Pshenichniy andamounts to not less than half of the number of the BOD members determined bythe Charter of the Company.Quorum to hold the BOD meeting with this agenda is present.Content of the decisionsand voting results:Item 1 on the agenda:"To approve recommendations to the general shareholders meeting of the Companyon the dividend amount on OJSC "Magnit" shares following the 6 months of 2014financial year results, the procedure of its payment, and the date as of whichthe shareholders entitled to receive dividends are determined".According to the recommendations of the OJSC "Magnit" Board of directors, toallocate part of the net profit of the Company for the 6 months of 2014 for thedividend payment:To pay dividends on OJSC "Magnit" ordinary registered shares in the amount of7,404,154,096.50 rubles (seven billion four hundred and four million onehundred and fifty four thousand ninety six rubles fifty kopecks), which amountsto 78.3 rubles (seventy eight rubles thirty kopecks) per share;It was recommended to the EGM of OJSC "Magnit" to approve the followingprocedure of dividends payment:1) Payment of dividends shall be executed pursuant to the procedure and withinthe time limit established by the legislation of the Russian Federation.2) Payment of dividends shall be executed by monetary funds with theinvolvement of the Registrar of the Company - Open joint-stock company"Obiedinennaya registratsionnaya kompaniya" (Taxpayer Id. Number 7705108630,Principal State Registration Number 1027700036540) as the entity renderingservices in dividend payment.3) To secure the receipt of dividends, the shareholders of OJSC "Magnit" shallupdate personal details and other information relevant for the dividendpayment, should they change, in the register of shareholders of OJSC "Magnit"or in the relevant depositary.It is recommended to the EGM of OJSC "Magnit" to appoint October 10, 2014 asthe date as of which the shareholders entitled to receive dividends aredetermined."Votes were cast as follows:A. Arutyunyan - "for", S. Galitskiy - "for", A. Zayonts - "for", A. Makhnev -"for", K. Pombukhchan - "for", A. Pshenichniy - "for", A. Shkhachemukov -"for".The decision was made.Item 2 on the agenda:"To call the EGM of OJSC "Magnit".Votes were cast as follows:A. Arutyunyan - "for", S. Galitskiy - "for", A. Zayonts - "for", A. Makhnev -"for", K. Pombukhchan - "for", A. Pshenichniy - "for", A. Shkhachemukov -"for".The decision was made.Item 3 on the agenda:"To ratify the following agenda of the AGM of OJSC "Magnit":1. "Payment of dividends on OJSC "Magnit" shares following the 6 months of 2014financial year results".2. "Ratification of the Charter of OJSC "Magnit" in the new edition".3. "Ratification of Regulation on the General shareholders meeting of OJSC"Magnit" in the new edition".4. "Approval of the major related party transactions".5. "Approval of the related party transactions".Votes were cast as follows:A. Arutyunyan - "for", S. Galitskiy - "for", A. Zayonts - "for", A. Makhnev -"for", K. Pombukhchan - "for", A. Pshenichniy - "for", A. Shkhachemukov -"for".The decision was made.Item 4 on the agenda:"To hold the EGM in the form of meeting (joint presence of shareholders todiscuss the agenda items and make decisions on the voting items withpreliminary submission (delivery) of voting ballots prior to the holding of theEGM)".Votes were cast as follows:A. Arutyunyan - "for", S. Galitskiy - "for", A. Zayonts - "for", A. Makhnev -"for", K. Pombukhchan - "for", A. Pshenichniy - "for", A. Shkhachemukov -"for".The decision was made.Item 5 on the agenda:"To appoint the EGM on September 25, 2014 at 11:00 AM, to appoint theregistration of the meeting participants on September 25, 2014 at 10:00 AM.Venue: 3-rd floor, conference hall, 15/5 Solnechnaya street, Krasnodar, Russia.To determine the address to which the completed voting ballots shall bedelivered: 15/5 Solnechnaya street, Krasnodar, 350072, Russia".Votes were cast as follows:A. Arutyunyan - "for", S. Galitskiy - "for", A. Zayonts - "for", A. Makhnev -"for", K. Pombukhchan - "for", A. Pshenichniy - "for", A. Shkhachemukov -"for".The decision was made.Item 6 on the agenda:"To authorize the registrar of the Company - OJSC "Objedinennayaregistratsionnaya kompaniya" - to make the list of shareholders entitled toparticipate in the EGM according to the register as of August 12, 2014".Votes were cast as follows:A. Arutyunyan - "for", S. Galitskiy - "for", A. Zayonts - "for", A. Makhnev -"for", K. Pombukhchan - "for", A. Pshenichniy - "for", A. Shkhachemukov -"for".The decision was made.Item 7 on the agenda:"To approve the form and the text of the voting ballots on agenda items whichshall be considered at the EGM".Votes were cast as follows:A. Arutyunyan - "for", S. Galitskiy - "for", A. Zayonts - "for", A. Makhnev -"for", K. Pombukhchan - "for", A. Pshenichniy - "for", A. Shkhachemukov -"for".The decision was made.Item 8 on the agenda:"To approve the text of the announcement of the EGM and to deliver it byregistered mail or to submit against signature to each shareholder of thecompany prior to August 25, 2014 inclusive".Votes were cast as follows:A. Arutyunyan - "for", S. Galitskiy - "for", A. Zayonts - "for", A. Makhnev -"for", K. Pombukhchan - "for", A. Pshenichniy - "for", A. Shkhachemukov -"for".The decision was made.Item 9 on the agenda:"To approve the following list of information materials to be presented to theshareholders within the period of preparation for the EGM:- recommendations of the Board of Directors of the Company on the dividendamount on OJSC "Magnit" shares following the 6 months of 2014 financial yearresults, the procedure of its payment, and the date as of which theshareholders entitled to receive dividends are determined;- draft Charter of OJSC "Magnit" in the new edition;- information on the amendments to the Charter of OJSC "Magnit";- draft Regulation on the General shareholders meeting of OJSC "Magnit" in thenew edition;- information on the amendments to the Regulation on the General shareholdersmeeting of OJSC "Magnit";- information on transactions to be approved by the EGM;- draft decisions of the EGM on the agenda items.To authorize the sole executive body to provide access to the above mentionedinformation materials starting from September 4, 2014 from 10:00 AM to 5:00 PM(break from 12:00 PM to 1:00 PM) in OJSC "Magnit" headquarters at the followingaddress: 15/5 Solnechnaya street, Krasnodar, Russia, tel. (861) 210-98-10 x14992".Votes were cast as follows:A. Arutyunyan - "for", S. Galitskiy - "for", A. Zayonts - "for", A. Makhnev -"for", K. Pombukhchan - "for", A. Pshenichniy - "for", A. Shkhachemukov -"for".The decision was made.Item 10.1 on the agenda:"Due to the fact that the loan agreement (several related loan agreements),which the Company plans to execute in future with the joint-stock company"Tander", is the major related party transaction, the price of the property, tothe possible disposal of which the granting of the loan is related, is to bedetermined by the Company's Board of Directors.According to articles 77 and 83 of the Federal law as of December 26, 1995 №208-FZ "On joint-stock companies" to decide that the price (money value) of theCompany's property, which can be directly or indirectly disposed by the Companyunder the loan agreement (several related loan agreements), shall be determinedon the basis of the following terms and conditions of the agreement, which theCompany plans to execute in future:1. Parties of the transaction (transactions): the lender - OJSC "Magnit", theborrower - JSC "Tander";2. Subject of the transaction (transactions): loan of funds;3. Maximum price (amount) of the transaction (transactions): up to35,000,000,000 (thirty five billion) rubles;4. Loan interest rate: not more than 12% (twelve percent) per annum;5. Time limit for the fulfillment of obligations under the transaction(transactions): up to 3 (three) years from the time of its conclusion (the timeof repayment of the loan amount and interest).To decide that the price (money value) of the Company's property, which can bedirectly or indirectly disposed by the Company under the loan agreement(agreements), can amount to 25 and more percent of the book value of theCompany's assets, determined from the data of its financial statements as ofthe last reporting date, but not more than 50 percent of the book value of theCompany's assets, determined from the data of its financial statements as ofthe last reporting date".Votes were cast as follows:A. Arutyunyan - "did not participate in voting", S. Galitskiy - "did notparticipate in voting", A. Zayonts - "for", A. Makhnev - "for", K. Pombukhchan- "for", A. Pshenichniy - "for", A. Shkhachemukov - "for".The decision was made.Item 10.2 on the agenda:"Due to the fact that the guarantee agreements, which the Company plans toexecute in future as security for obligations of Joint-stock company "Tander"(beneficiary) (hereafter - "the Borrower") to Open joint-stock company"Sberbank of Russia" (OJSC "Sberbank of Russia") (hereafter - "the Creditor")under the agreements of revolving and non-revolving lines of credit (hereafter- "the Credit agreements"), are major related party transactions, the price ofthe property, to the possible disposal of which the granting of the guaranteeis related, is to be determined by the Company's Board of directors.According to articles 77 and 83 of the Federal law as of December 26, 1995 №208-FZ "On joint-stock companies" to decide that the amount of obligations ofthe Company and, subsequently, the price (money value) of the Company'sproperty, which can be directly or indirectly disposed by the Company under theguarantee agreements, shall be determined on the basis of the following termsand conditions of the Credit agreements, which the Borrower plans to execute infuture:1. Total credit limit for all Credit agreements, which the Borrower plans toexecute in future, shall amount to not more than 24,000,000,000 (twenty fourbillion rubles);2. The credit use period under each credit agreement shall not exceed 3 (three)years;3. Interest rate for the credit use including charges shall amount to not morethan 15% (fifteen percent) per annum;4. Terms, procedure of granting and repayment of the credit amounts, interestand other payments shall be determined by the relevant Credit agreements;5. Maximum price (amount) of the guarantee agreements: The Guarantor shall befully liable to the Creditor for non-fulfillment or improper fulfillment ofobligations by the Borrower under the Credit agreements, including principalamount of debt, interest, penalties, losses caused to the Creditor by thenon-fulfillment or improper fulfillment of the Credit agreements.To decide that the price (money value) of the Company's property, which can bedirectly or indirectly disposed by the Company under the guarantee agreements,can amount to 25 and more percent of the book value of the Company's assets,determined from the data of its financial statements as of the last reportingdate, but not more than 50 percent of the book value of the Company's assets,determined from the data of its financial statements as of the last reportingdate".Votes were cast as follows:A. Arutyunyan - "did not participate in voting", S. Galitskiy - "did notparticipate in voting", A. Zayonts - "for", A. Makhnev - "for", K. Pombukhchan- "for", A. Pshenichniy - "for", A. Shkhachemukov - "for".The decision was made.Item 10.3 on the agenda:"Due to the fact that the guarantee agreement, which Open joint-stock company"Magnit" (hereafter - "the Guarantor") plans to execute in future withJoint-stock commercial bank "Bank of Moscow" (open joint-stock company) -(hereafter - "the Credit agreement"), as security for obligations ofJoint-stock company "Tander" (beneficiary) (hereafter - "the Borrower") toJoint-stock commercial bank "Bank of Moscow" (open joint-stock company)(hereafter - "the Creditor") under the Credit agreement №29-261/15/2651-10-KRas of September 30, 2010, in consideration of all additional agreements to it(hereafter - "the Credit agreement"), is a major related party transaction, theprice (money value) of the property, to the possible disposal of which thegranting of the guarantee is related, is to be determined by the Company'sBoard of directors.According to articles 77 and 83 of the Federal law as of December 26, 1995 №208-FZ "On joint-stock companies" to decide that the amount of obligations ofthe Guarantor and, subsequently, the price (money value) of the Guarantor'sproperty, which can be directly or indirectly disposed by the Company under theguarantee agreements, shall be determined on the basis of the following termsand conditions of the Credit agreement:1. The Credit agreement shall reflect intentions of the Creditor and theBorrower to execute credit transactions and regulate the approval procedure ofterms and conditions of the credit transactions;2. Maximum indebtedness of the Borrower under one-time credits provided withinthe terms of the Credit agreement, shall amount to not more than 16,000,000,000(sixteen billion) rubles;3. Credits within the terms of the Credit agreement shall be provided for themaximum of 90 (ninety) days;4. Upon determination of the deadline of repayment of each credit, the wholeindebtedness under credits, provided within the terms of the Credit agreement,shall be repaid in full not later than April 30, 2016;5. Interest rate for the credit use including charges amounts to not more than14% (fourteen percent) per annum;6. Terms, procedure of granting and repayment of the credit amounts, interestand other payments shall be determined by the relevant credit transactionsexecuted on the basis of and within the terms of the Credit agreement.Maximum price (amount) of the guarantee agreement: The Guarantor shall be fullyliable to the Creditor for non-fulfillment or improper fulfillment ofobligations by the Borrower under the Credit agreement, including principalamount of debt, interest, penalties, losses caused to the Creditor by thenon-fulfillment or improper fulfillment of the Credit agreement.The Guarantor shall be liable jointly with the Borrower at the request of theCreditor for repayment of the received credit (for reimbursement of thereceived monetary amount) under the Credit agreement in case of declaration ofits invalidity or repayment of unreasonable gains upon the declaration of theCredit agreement not concluded in accordance with the procedure established bylaw.To decide that the price (money value) of the Guarantor's property, which canbe directly or indirectly disposed by the Guarantor under the Guaranteeagreement with the Creditor, can amount to 25 (twenty five) and more percent ofthe book value of the Company's assets, determined from the data of itsfinancial statements as of the last reporting date, but not more than 50(fifty) percent of the book value of the Company's assets, determined from thedata of its financial statements as of the last reporting date".Votes were cast as follows:A. Arutyunyan - "did not participate in voting", S. Galitskiy - "did notparticipate in voting", A. Zayonts - "for", A. Makhnev - "for", K. Pombukhchan- "for", A. Pshenichniy - "for", A. Shkhachemukov - "for".The decision was made.Item 11.1 on the agenda:"Due to the fact that the guarantee agreements, which the Company plans toexecute in future as security for obligations of the joint-stock company"Tander" (beneficiary) (hereafter - "the Borrower") to open joint-stock bank"ROSBANK" (open joint-stock company) (hereafter - "the Creditor") under theagreements on revolving lines of credit (hereafter - "the Credit agreements"),are related party transactions, the price of the property, to the possibledisposal of which the granting of the guarantee is related, is to be determinedby the Company's Board of directors.According to articles 77 and 83 of the Federal law as of December 26, 1995 №208-FZ "On joint-stock companies" to decide that the amount of obligations ofthe Company and, subsequently, the price (money value) of the Company'sproperty, which can be directly or indirectly disposed by the Company under theguarantee agreements, shall be determined on the basis of the following termsand conditions of the Credit agreements, which the Borrower plans to execute infuture:1. Total credit limit for all Credit agreements, which the Borrower plans toexecute in future, shall amount to not more than 5,000,000,000 (five billionrubles);2. The credit under each Credit agreement shall be provided for the maximum of3 (three) years;3. Interest rate for the credit use including charges amounts to not more than15% (fifteen percent) per annum;4. Terms, procedure of granting and repayment of the credit amounts, interestand other payments shall be determined by the relevant Credit agreements;5. The limit price (amount) of the guarantee agreements: the total amount ofobligations of the Guarantor shall not exceed 7,252,054,795 (seven billion twohundred and fifty two million fifty four thousand seven hundred and ninetyfive) rubles.The price of the property, to the possible disposal of which the transactionsof guarantee are related, amounts to more than 2%, but not more than 25% of thebook value of the Company's assets, determined from the data of its financialstatements as of the last reporting date".Votes were cast as follows:A. Arutyunyan - "did not participate in voting", S. Galitskiy - "did notparticipate in voting", A. Zayonts - "for", A. Makhnev - "for", K. Pombukhchan- "for", A. Pshenichniy - "for", A. Shkhachemukov - "for".The decision was made.Item 11.2 on the agenda:"Due to the fact that the guarantee agreement, which the Company plans toexecute in future as security for obligations of the joint-stock company"Tander" (beneficiary) (hereafter - "the Borrower") to open joint-stock company"ALFA-BANK" (hereafter - "the Creditor") under the credit agreement on openingof the revolving credit line in Russian rubles (hereafter - "the Creditagreement"), is a related party transaction, the price of the property, to thepossible disposal of which the granting of the guarantee is related, is to bedetermined by the Company's Board of directors.According to articles 77 and 83 of the Federal law as of December 26, 1995 №208-FZ "On joint-stock companies" to decide that the amount of obligations ofthe Company and, subsequently, the price (money value) of the Company'sproperty, which can be directly or indirectly disposed by the Company under theguarantee agreement, shall be determined on the basis of the following:- the guarantee agreement shall secure the fulfillment of obligations by theBorrower under the Credit agreement which the Borrower plans to execute infuture with the following essentials:1. The Creditor shall provide the Borrower with monetary funds in Russianrubles (hereafter - "the Credits") in the form of the revolving credit line(hereafter - "the Credit line");2. Within the Credit lines the Borrower shall have a right to receive Credits,the maximum amount of aggregate debt on which on any day of the term of theCredit line comprises not more than 4,000,000,000 (four billion) rubles("Credit limit");3. The term of each Credit line shall not exceed 51 (fifty one) months, theBorrower shall repay all received Credits no later than the date of expirationof the term of the relevant Credit line;4. Credits within the term of each Credit line shall be provided for not morethan 36 (thirty six) months;5. Interest rate: not more than 15 (fifteen) percent per annum;6. Terms, procedure of granting and repayment of the Credit amounts (includingthe amount of any type of remuneration paid by the Borrower to the Creditor)shall be determined by the Credit agreement;Maximum price (amount) of the guarantee agreement: The Guarantor shall be fullyliable to the Creditor for non-fulfillment or improper fulfillment ofobligations by the Borrower under the Credit agreement, including the principalamount of debt, interest, penalties, losses caused to the Creditor by thenon-fulfillment or improper fulfillment of the Credit agreement;- the guarantee agreement shall secure the fulfillment of obligations by theBorrower in case of invalidity of the Credit agreement, fixed by the validjudgment, on repayment of monetary funds received by the Borrower for thebenefit of the Creditor, and on payment of interest for the use of another'smonetary funds charged on the amount of unreasonable gains of the Borrower.The price of the property, to the possible disposal of which the guaranteeagreement is related, amounts to more than 2%, but not more than 25% of thebook value of the Company's assets, determined from the data of its financialstatements as of the last reporting date".Votes were cast as follows:A. Arutyunyan - "did not participate in voting", S. Galitskiy - "did notparticipate in voting", A. Zayonts - "for", A. Makhnev - "for", K. Pombukhchan- "for", A. Pshenichniy - "for", A. Shkhachemukov - "for".The decision was made.Item 11.3 on the agenda:"Due to the fact that the guarantee agreement, which the Company plans toexecute in future as security for obligations of the joint-stock company"Tander" (beneficiary) (hereafter - "the Borrower") to open joint-stock company"ALFA-BANK" (hereafter - "the Creditor") under the credit agreement on openingof the revolving credit line in Russian rubles (hereafter - "the Creditagreement"), is a related party transaction, the price of the property, to thepossible disposal of which the granting of the guarantee is related, is to bedetermined by the Company's Board of directors.According to articles 77 and 83 of the Federal law as of December 26, 1995 №208-FZ "On joint-stock companies" to decide that the amount of obligations ofthe Company and, subsequently, the price (money value) of the Company'sproperty, which can be directly or indirectly disposed by the Company under theguarantee agreement, shall be determined on the basis of the following:- the guarantee agreement shall secure the fulfillment of obligations by theBorrower under the Credit agreement which the Borrower plans to execute infuture with the following essentials:1. The Creditor shall provide the Borrower with monetary funds in Russianrubles (hereafter - "the Credits") in the form of the revolving credit line(hereafter - "the Credit line");2. Within the Credit lines the Borrower shall have a right to receive Credits,the maximum amount of aggregate debt on which on any day of the term of theCredit line comprises not more than 5,000,000,000 (five billion) rubles("Credit limit");3. The term of each Credit line shall not exceed 51 (fifty one) months, theBorrower shall repay all received Credits no later than the date of expirationof the term of the relevant Credit line;4. Credits within the term of each Credit line shall be provided for not morethan 36 (thirty six) months;5. Interest rate: not more than 15 (fifteen) percent per annum;6. Terms, procedure of granting and repayment of the Credit amounts (includingthe amount of any type of remuneration paid by the Borrower to the Creditor)shall be determined by the Credit agreement;Maximum price (amount) of the guarantee agreement: The Guarantor shall be fullyliable to the Creditor for non-fulfillment or improper fulfillment ofobligations by the Borrower under the Credit agreement, including the principalamount of debt, interest, penalties, losses caused to the Creditor by thenon-fulfillment or improper fulfillment of the Credit agreement;- the guarantee agreement shall secure the fulfillment of obligations by theBorrower in case of invalidity of the Credit agreement, fixed by the validjudgment, on repayment of monetary funds received by the Borrower for thebenefit of the Creditor, and on payment of interest for the use of another'smonetary funds charged on the amount of unreasonable gains of the Borrower.The price of the property, to the possible disposal of which the guaranteeagreement is related, amounts to more than 2%, but not more than 25% of thebook value of the Company's assets, determined from the data of its financialstatements as of the last reporting date".Votes were cast as follows:A. Arutyunyan - "did not participate in voting", S. Galitskiy - "did notparticipate in voting", A. Zayonts - "for", A. Makhnev - "for", K. Pombukhchan- "for", A. Pshenichniy - "for", A. Shkhachemukov - "for".The decision was made.Item 12 on the agenda:"To approve the equipment sale and purchase agreement with Joint-stock company"Tander", which is the related party transaction based on the following termsand conditions of the sale and purchase agreement:Parties of the transaction: Seller - OJSC "Magnit", Buyer - JSC "Tander";Subject of the transaction: the Seller shall transfer the diesel generator/DGA-100 kW (quantity - 1 item) to the possession of the Buyer, and the Buyershall accept the equipment and pay the monetary amount for it.Price of the transaction: 1,935,200 (one billion nine hundred and thirty fivethousand two hundred) rubles (incl. VAT).The price of the property, to the possible disposal of which the execution ofthe transaction is related, amounts to less than 2% of the book value of theCompany's assets, determined from the data of its financial statements as ofthe last reporting date".Votes were cast as follows:A. Arutyunyan - "did not participate in voting", S. Galitskiy - "did notparticipate in voting", A. Zayonts - "for", A. Makhnev - "for", K. Pombukhchan- "for", A. Pshenichniy - "for", A. Shkhachemukov - "for".The decision was made.For further information, please contact:Timothy Post Director, Investor Relations Email: post@magnit.ru Office: +7-861-277-4554 x 17600 Mobile: +7-961-511-7678 Direct Line: +7-861-277-4562Dina Svishcheva Deputy Director, Investor Relations Email: Chistyak@magnit.ru Office: +7-861-277-45-54 x 15101 Mobile: +7-961-511-0202 Direct Line: +7-861-277-4562Company description:Magnit is Russia's largest food retailer. Founded in 1994, the company isheadquartered in the southern Russian city of Krasnodar. As of June 30, 2014,Magnit operated 24 distribution centers and over 8,600 stores (7,614convenience, 226 hypermarkets, and 778 drogeries) in approximately 2,000 citiesand towns throughout 7 federal regions of the Russian Federation.In accordance with the audited IFRS consolidated financial statements for 2013,Magnit had revenues of $18,202 million USD and an EBITDA of $2,032 million USD.Magnit's local shares are traded on the Moscow Stock Exchange (MICEX: MGNT) andits GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit ratingfrom Standard & Poor's of BB. Measured by market capitalization, Magnit is oneof the largest retailers in Europe.