OREANDA-NEWS. November 15, 2011. OJSC "Magnit" (the "Company"; RTS, MICEX and LSE: MGNT) notifies shareholders of their pre-emptive rights

Name of issuer

Open Joint Stock Company "Magnit," a company incorporated and existing under the laws of the Russian Federation with its registered address at 18 Kolkhoznaya street, Krasnodar, Krasnodar region, Russian Federation (the "Company").

Decision on the charter capital increase

On October 6, 2011, the Company's Board of Directors resolved to increase the Company's charter capital by means of an offering of additional ordinary registered uncertified shares in the amount of 10,813,516 (ten million eight hundred and thirteen thousand five hundred and sixteen) with a nominal value per share of 0.01 (zero point zero one) ruble (the "Additional Shares").

On November 10, 2011 the Russian Federal Service for Financial Markets (the "FSFM") registered the issue of Additional Shares. Additional Shares will be placed by means of open subscription.