OREANDA-NEWS. OJSC “Magnit”, Russia’s largest retailer (the “Company”, “Issuer”; MICEX and LSE: MGNT), is pleased to announce the results of the BOD meeting held on April 23, 2013.

Please be informed that on April 23, 2013 the BOD meeting was held (minutes of the BOD meeting of OJSC “Magnit” are w/o No. of April 23, 2013).

The meeting agenda;

1. Determination of OJSC “Magnit” business priorities

The following BOD members were present; A. Arutyunyan, V. Butenko, S. Galitskiy, 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 on the agenda;

“To determine OJSC “Magnit” business priorities by means of ratification of the Plans of financial and economic activity of the Company for the year 2013, the first quarter of 2013, the second quarter of 2013”.

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.