OREANDA-NEWS. OJSC “Magnit” (the “Company”, “Issuer”; MICEX and LSE: MGNT) is pleased to announce the results of the BOD meeting held on M arch 11, 2013.

Please be informed that the BOD meeting was held (minutes of BOD meeting of OJSC “Magnit” are w/o No. of March 11, 2013).

The meeting agenda:

1. Approval of the related party transactions.

2. Determination of the position of the OJSC "Magnit" representative at the exercise of the voting right on the Retail Import LLC shares owned by the Company.

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

A. Zayonts and A. Makhnev provided their written 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 written opinions of 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:

Item 1.1 on the agenda:

“To approve the loan agreement which the Company plans to execute in future with JSC “Tander” and which is the related party transaction with the following essentials:

• parties of the transaction: the Lender - OJSC “Magnit”, the Borrower - JSC “Tander”

• subject of the transaction: special-purpose loan of funds with the condition that the Borrower shall use the provided loan to refinance the expenses related to the construction of:

- hypermarket located at 200 Komsomolskaya street, Volsk, Saratov region, Russia;

- hypermarket located at 50 a Leningradskiy prospect, Yaroslavl, Yaroslavl region, Russia;

- hypermarket located at 1 Ibragimova street, Chistopol, Republic of Tatarstan, Russia;

- hypermarket located at 53 Naberezhnaya Leonova street, Balakovo, Saratov region, Russia;

• limit price (amount) of the transaction: up to 1,200,000,000 (one billion two hundred million) rubles;

• loan interest rate: cannot exceed 12% (twelve percent) per annum;

• deadline to fulfill the obligations under the transaction: up to 1 (one) year from the date of the transaction execution (term for repayment of the loan amount and accrued interest amount hereof by the Borrower).

The price of the property to the possible disposal of which the transaction is related amounts to less than 2% of the book value of assets of the Company determined on the basis of the accounting statements for the latest accounting period”.

Votes cast is as follows:

A. Arutyunyan - “did not participate in voting”, V. Butenko - “for”, S. Galitskiy - “did not participate in voting”, A. Zayonts - “for”, A. Makhnev - “for”, K. Pombukhchan - “did not participate in voting”, A. Shkhachemukov - “for”.

The decision was made.

Item 1.2 on the agenda;

"To approve the loan agreement which the Company plans to execute in future with JSC “Tander” and which is the related party transaction with the following essentials:

• parties of the transaction: the Lender - OJSC “Magnit”, the Borrower - JSC “Tander”

• subject of the transaction: special-purpose loan of funds with the condition that the Borrower shall use the provided loan to refinance the expenses related to the construction of:

- hypermarket located at 9 Olomoutskaya street, Volzhskiy, Volgograd region, Russia;

- Magnit Family store located at 30 Khimikov street, Omsk, Omsk region, Russia;

- hypermarket located at 26 Shukhova street, Tula, Tula region, Russia;

• limit price (amount) of the transaction: up to 1,000,000,000 (one billion) rubles;

• loan interest amount: cannot exceed 12% (twelve percent) per annum;

• deadline to fulfill the obligations under the transaction: up to 1 (one) year and 6 (six) months from the date of the transaction execution (term for repayment of the loan amount and accrued interest amount hereof by the Borrower).

The price of the property to the possible disposal of which the transaction is related amounts to less than 2% of the book value of assets of the Company determined on the basis of the accounting statements for the latest accounting period”.

Votes cast is as follows:

A. Arutyunyan - “did not participate in voting’, V. Butenko - “for”, S. Galitskiy - “did not participate in voting”, A. Zayonts - “for”, A. Makhnev - “for”, K. Pombukhchan - “did not participate in voting’, A.

Shkhachemukov - “ for”.

The decision was made.

Item 1.3 on the agenda;

“To approve the loan agreement which the Company plans to execute in future with JSC “Tander” and which is the related party transaction with the following essentials:

• parties of the transaction: the Lender - OJSC “Magnit”, the Borrower - JSC “Tander”

• subject of the transaction: special-purpose loan of funds with the condition that the Borrower shall use the provided loan to refinance the expenses related to the construction of:

- hypermarket located at 20 Kochetova street, Veliky Novgorod, Novgorod region, Russia;

- Magnit Family store located at 10 Shkolniy lane, Mirniy, Arkhangelsk region, Russia;

- hypermarket located at 55a Azina street, Sarapul, Udmurt Republic, Russia;

• limit price (amount) of the transaction: up to 900,000,000 (nine hundred million) rubles;

• loan interest amount: cannot exceed 12% (twelve percent) per annum;

• deadline of transaction obligations fulfillment: up to 2 (two) years from the date of the transaction execution (term for repayment of the loan amount and accrued interest amount hereof by the Borrower).

The price of the property to the possible disposal of which the transaction is related amounts to less than 2% of the book value of assets of the Company determined on the basis of the accounting statements for the latest accounting period”.

Votes cast is as follows:

A. Arutyunyan - “did not participate in voting”, V. Butenko - “for”, S. Galitskiy - “did not participate in voting”, A. Zayonts - “for”, A. Makhnev - “for”, K. Pombukhchan - “did not participate in voting”, A. Shkhachemukov - “ for”.

The decision was made.

Item 1.4 on the agenda;

“To approve the loan agreement which the Company plans to execute in future with JSC “Tander” and which is the related party transaction with the following essentials:

• parties of the transaction: the Lender - OJSC “Magnit” the Borrower - JSC “Tander”

• subject of the transaction: special-purpose loan of funds subject to the use of the provided loan amount by the Borrower for refinancing the expenses related to the construction of:

- hypermarket located at 33 Kirova street, Ekaterinburg, Sverdlovsk region, Russia;

- Magnit Family store located at 64A Engelsa street, Voronezh, Voronezh region, Russia;

- hypermarket located at 80 Bratiev Kashirinykh street, Chelyabinsk, Chelyabinsk region, Russia;

• limit price (amount) of the transaction: up to 900,000,000 (nine hundred million) rubles;

• loan interest amount: cannot exceed 12% (twelve percent) per annum;

• deadline to fulfill the obligations under the transaction: up to 3 (three) years from the date of the transaction execution (term for repayment of the loan amount and accrued interest amount hereof by the Borrower).

The price of the property to the possible disposal of which the transaction is related amounts to less than 2% of the book value of assets of the Company determined on the basis of the accounting statements for the latest accounting period”.

Votes cast is as follows:

A. Arutyunyan - “did not participate in voting”, V. Butenko - “for”, S. Galitskiy - “did not participate in voting”, A. Zayonts - “for”, A. Makhnev - “for”, K. Pombukhchan - “did not participate in voting”, A. Shkhachemukov - “for”.

The decision was made.

Item 2 on the agenda;

“To recommend the sole executive body of OJSC “Magnit”, which is the sole shareholder of Retail Import LLC (the “company”), to make the following decision at the exercise of the voting right on the Retail Import LLC shares in the charter capital owned by the company:

“1. To increase the charter capital of the company by 10,000 (ten thousand) rubles, from 10,000,000 (ten million) rubles to 10,010,000 (ten million ten thousand) rubles upon the application of the company’s shareholder (OJSC “Magnit”) for additional contribution to the charter capital.

2. To increase the nominal value of the OJSC “Magnit” share in the charter capital of the company by 10,000 (ten thousand), from 10,000,000 (ten million) rubles to 10,010,000 (ten million ten thousand) rubles.

3. To approve the new amount of the share of the company’s shareholder: the nominal value of the OJSC “Magnit” share amounts to 10,010,000 (ten million ten thousand) rubles that constitutes 100% of the company’s charter capital.

4. To specify the location of the company. The new address of Retail Import LLC is room 3, floor 1, letter B, 15/5 Solnechnaya street, Prikubanskiy district, Krasnodar, Russian Federation.

5. To ratify the company’s Charter in the new edition.”

Votes were cast 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 was made.