OREANDA-NEWS. PJSC "Magnit", Russia's largest food retailer (the "Company", MICEX and LSE: MGNT), is pleased to announce the holding of the Board of Directors meeting.

On December 9, 2014 the Chairman of the Board of Directors made the decision to hold the BOD meeting on December 15, 2014 with the following agenda:

Approval of the related party transaction.

Approval of the additional agreement to the agreement with the person exercising the power of the sole executive body of PJSC "Magnit".

Making of the decision to pay the bonus to the person exercising the power of the sole executive body of PJSC "Magnit" based on the results of 2014.

Introduction (approval) of amendments to the Resolution authorizing issuance of non-convertible interest-bearing certified bonds of the 02 series to the bearer with the obligatory centralized custody.

Introduction (approval) of amendments to the Resolution authorizing issuance of non-convertible interest-bearing certified bonds of the 03 series to the bearer with the obligatory centralized custody.

Introduction (approval) of amendments to the Prospectus of non-convertible interest-bearing certified bonds of the 01, 02, 03 series to the bearer with the obligatory centralized custody in respect of non-convertible interest-bearing certified bonds of the 02, 03 series to the bearer with the obligatory centralized custody.

Determination of the position of the PJSC "Magnit" representative at the exercise of the voting right on the JSC "Tander" shares owned by the Company.

Magnit is Russia's largest food retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of September 30, 2014, Magnit operated 25 distribution centers and over 9,020 stores (7,891 convenience, 243 hypermarkets, and 886 drogerie stores) in approximately 2,000 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the reviewed IFRS consolidated financial statements for 1H 2014, Magnit had revenues of USD 9,979 million USD and an EBITDA of USD 1,045 million USD. Magnit's local shares are traded on the Moscow

Stock Exchange (MICEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a

credit rating from Standard & Poor's of BB. Measured by market capitalization, Magnit is one of the largest retailers in Europe.