Press-releaseKrasnodarApril 15, 2014OJSC "Magnit" Announces the Holdingof the BOD MeetingKrasnodar, April 15, 2014: OJSC "Magnit", Russia's largest food retailer (the"Company", the "Issuer", MICEX and LSE: MGNT), is pleased to announce theholding of the Board of Directors meeting.On April 15, 2014 the Chairman of the Board of Directors made the decision tohold the BOD meeting onApril 17, 2014 with the following agenda: 1. Approval of the list of candidates to be elected to the Board of Directors of the Company at the AGM of OJSC "Magnit". 2. 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". 3. Approval of the related party transaction. 4. 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.For further information, please contact:Timothy Post Director, Investor Relations Email: post@gw.tander.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@gw.tander.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 March 31, 2014,Magnit operated 23 distribution centers and over 8,200 stores (7,341convenience, 215 hypermarkets, and 700 cosmetics) in more than 1,905 cities andtowns 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.