OREANDA-NEWS. OJSC “Magnit”, Russia's largest food retailer (the “Company”, the “Issuer”, MICEX and LSE: MGNT), is pleased to announce the holding of the Board of Directors meeting. On July 25, 2014 the Chairman of the Board of Directors made the decision to hold the BOD meeting on July 31, 2014 with the following agenda:

1. Approval of recommendations to the general shareholders meeting of the Company on the dividend amount on OJSC “Magnit” shares following the 6 months of 2014 financial year results, the procedure of its payment and the date as of which the shareholders entitled to receive dividends are determined.

2. Calling of the extraordinary general shareholders meeting (“the EGM”) of OJSC “Magnit”.

3. Approval of the agenda of the EGM of OJSC “Magnit”.

4. Approval of the form of holding of the EGM of OJSC “Magnit”.

5. Determination of the date, time and venue of the EGM of OJSC “Magnit” and the postal address to send the filled voting ballots.

6. Determination of the date of the list of shareholders entitled to participate in the EGM of OJSC “Magnit”.

7. Approval of the form and the text of the voting ballots on the items to be considered at the EGM of OJSC “Magnit”.

8. Approval of the procedure of notification of shareholders of the holding of the EGM of OJSC “Magnit”.

9. Approval of the list of information (materials) provided to shareholders to prepare to the holding of the EGM of OJSC “Magnit”, and the procedure of its provision.

10. Determination of the recommended price for major related party transactions to be approved by the EGM of OJSC “Magnit”.

11. Determination of the recommended price for related party transactions to be approved by the EGM of OJSC “Magnit”.

12. Approval of the related party transactions. The estimated date of the list of shareholders entitled to participate in the EGM: August 12, 2014.

The list of shareholders entitled to receive dividends shall be determined by the EGM, where the decision to pay (declare) the dividends on the OJSC “Magnit” shares shall be made.

The period following the results of which the decision to pay (declare) dividends on the issuer's shares shall be made at the EGM: 6 months of 2014 financial year.

Types of the issuer's shares on which the decision to pay (declare) dividends shall be made at the EGM: ordinary registered shares.