OREANDA-NEWS. October 19, 2012. OJSC “Magnit” (the “Company”, “Issuer”; MICEX and LSE: MGNT) is pleased to announce the results of the BOD meeting held on October 11, 2012.

Please be informed that today the BOD meeting was held (minutes of BOD of OJSC “Magnit” are w/o No. of October 11, 2012).

The meeting agenda;

1. Determination of OJSC “Magnit” business priorities

2. On advanced termination of appointment of the collegial executive body (Management Board) members of OJSC “Magnit”.

3. On election of the collegial executive body (Management Board)members of OJSC “Magnit”.

The following BOD members were present: A. Arutyunyan, S. Galitskiy, V. Butenko and A. Shkhachemukov.

K. Pombukhchan, A. Zayonts and A. Makhnev provided their written opi nions on the items of the agenda of the BOD meeting of OJSC “Magnit”.

The number of the BOD members participated in the meeting, including written opinions of K. Pombukhchan, A. Zayonts and A. Makhnev, amounts to not less than half of the number of the BOD members determined by the Charter of the Company.

Quorum to hold the BoD meeting with this agenda is present.

Content of the decisions and voting results:

On the item 1 of the agenda;

“To determine OJSC “Magnit” business priorities by means of ratification of the Plan of financial and economic activity for the 4th quarter of the year 2012 (Annex 4 to the mi nutes)”.

Votes cast is as follows:

A. Arutyunyan - “for”, V. Butenko - “for”, S. Galitskiy - “for”, A. Zayonts - “for”, A. Makhnev - “for”, K. Pombukhchan - “ for”, A. Shkhachemukov - “ for”.

The decision is made.

On the item 2 of the agenda;

“To terminate the appointment of the following Management Board members of OJSC “Magnit” in advance on October 11, 2012:

- Lyubov Shaguch;

- Nikita Churikov”.

Votes cast is as follows:

A. Arutyunyan - “for”, V. Butenko - “for”, S. Galitskiy - “for”, A. Zayonts - “for”, A. Makhnev - “for”, K. Pombukhchan - “ for”, A. Shkhachemukov - “ for”.

The decision is made.

On the item 3 of the agenda;

“To elect the followi ng candidates as the Management Board members of OJSC “Magnit” from October 12, 2012:

- Marina Ivanova (share in the charter capital of the Issuer - 0.004%);

- Ilya Sattarov (share in the charter capital of the Issuer - 0.0006%)”.

Votes cast is as follows:

A. Arutyunyan - "for”, V. Butenko - “for”, S. Galitskiy - "for”, A. Zayonts - “for”, A. Makhnev - "for”, K. Pombukhchan - “for”, A. Shkhachemukov - “for”.

The decision is made.