OREANDA-NEWS. June 20, 2012. OJSC "Magnit" (the "Company", "Issuer"; MICEX and LSE: MGNT) is pleased to announce the results of the BOD meeting held on June 13, 2012.

Dear Ladies and Gentlemen!

We would like to inform you that today the BOD meeting was held (minutes of BOD of OJSC "Magnit" are w/o No. of June 13, 2012).

The meeting agenda:

Election of the Chairman of the Board of directors of OJSC "Magnit".

Election of the Deputy Chairman of the Board of directors of OJSC "Magnit".

Election of the Secretary of the Board of directors of OJSC "Magnit".

Election of members of the audit committee of the Board of directors of OJSC "Magnit".

Election of the Chairman of the audit committee of the Board of directors of OJSC "Magnit".

Election of members of the HR and remuneration committee of the Board of directors of OJSC "Magnit".

Election of the Chairman of the HR and remuneration committee of the Board of directors of OJSC "Magnit".

Election of the Management board of OJSC "Magnit".

Appointment of the Deputy Chairman of the Management board of OJSC "Magnit".

Ratification of the employment agreement with the collegial executive body (Management Board) member of OJSC "Magnit".

Determination of the position of the OJSC "Magnit" representative at the exercise of the voting right on shares in the charter capital of JSC "Tander" owned by the Company.

Approval of the related party transactions.

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