OREANDA-NEWS. August 10, 2012. OJSC “Magnit” (the “Company”; MICEX and LSE: MGNT) announces the election of Sergey Galitskiy to the Bureau of the Board of Directors of RSPP.

We would like to inform you that Sergey Galitskiy, Magnit CEO, was elected to the membership of the Bureau of the Board of Directors of the Russian Union of Industrialists and Entrepreneurs (RSPP).

The Russian Union of Industrialists and Entrepreneurs is the all-Russian organization which represents the interest of the business community. The Russian union acts through two legal entities - the all-Russian union of employers (OOR “RSPP") and the all-Russian non-governmental organization (LLC  RSPP).

Today RSPP unites more than 100 industry and regional associations representing key sectors of economy: fuel and energy, machinery, investment banking as well as military-industrial complex, construction, chemical production and consumer goods industry.

RSPP unites over 320 thousand representatives of industrial, scientific, financial and commercial organizations in all regions of Russia. Enterprises represented in RSPP produce more than 60% of GDP of Russia in aggregate.

RSPP sees its mission in consolidation of efforts of Russian industrialists and entrepreneurs aiming at improving business environment, raising status of the Russian business within the country and worldwide, supporting balance of interest of society, government and business.