Press-releaseKrasnodarMay 22, 2015PJSC "Magnit" Announces the Holding of the BOD MeetingKrasnodar, May 22, 2015: PJSC "Magnit", Russia's largest food retailer (the"Company", MOEX and LSE: MGNT), is pleased to announce the holding of the Boardof Directors meeting.On May 22, 2015 the Chairman of the Board of Directors made the decision tohold the BOD meeting on May 28, 2015 with the following agenda: 1. Determination of the position of the PJSC "Magnit" representative at the exercise of the voting right on the JSC "Tander" shares owned by the Company. 2. Approval of the Regulations on the internal audit of Public Joint Stock Company "Magnit". 3. Approval of the related party transaction.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 March 31, 2015,Magnit operated 28 distribution centers and over 10,000 stores (8,581convenience, 300 hypermarkets, and 1,239 drogerie stores) in approximately2,180 cities and towns throughout 7 federal regions of the Russian Federation.In accordance with the audited IFRS consolidated financial statements for 2014,Magnit had revenues of RUB 764 billion and an EBITDA of RUB 86 billion.Magnit's local shares are traded on the Moscow Stock Exchange (MOEX: 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.