MGJCL Magnit PJSC (CE)

Press-release

Krasnodar

May 30, 2014

OJSC "Magnit" Announces the AGM Results

Krasnodar, May 30, 2014: OJSC "Magnit", Russia's largest food retailer (the
"Company"; MICEX and LSE: MGNT), announces the results of the Annual General
Shareholders Meeting.

Please be informed that the AGM of OJSC "Magnit" was held on May 29, 2014.

Positive decisions were made by the general shareholders meeting on the
following agenda items put to a vote:

- the annual report, annual accounting (financial) reports of OJSC "Magnit"
were adopted;

- profit (including payment (declaration) of dividends) and loss allocation of
OJSC "Magnit" following 2013 financial year results was approved.

- the Board of directors of OJSC "Magnit" was elected;

- the Revision commission of OJSC "Magnit" was elected;

- the auditor of OJSC "Magnit" was approved;

- the auditor of OJSC "Magnit" in accordance with the IFRS was approved;

- the Counting commission of OJSC "Magnit" was elected;

- the Charter of OJSC "Magnit" in the new edition was ratified;

- the Regulations on the General shareholders meeting of OJSC "Magnit" in the
new edition were ratified;

- major related party transactions were approved;

- related party transactions were approved.

For further information, please contact:

Timothy Post                            Director, Investor Relations

                                        Email: post@magnit.ru

                                        Office: +7-861-277-4554 x 17600

                                        Mobile: +7-961-511-7678

                                        Direct Line: +7-861-277-4562

Dina Svishcheva                         Deputy Director, Investor Relations

                                        Email: Chistyak@magnit.ru

                                        Office: +7-861-277-45-54 x 15101

                                        Mobile: +7-961-511-0202

                                        Direct Line: +7-861-277-4562

Company description:

Magnit is Russia's largest food retailer. Founded in 1994, the company is
headquartered in the southern Russian city of Krasnodar. As of March 31, 2014,
Magnit operated 23 distribution centers and over 8,200 stores (7,341
convenience, 215 hypermarkets, and 700 cosmetics) in more than 1,905 cities and
towns throughout 7 federal regions of the Russian Federation.

In accordance with the audited IFRS consolidated financial statements for 2013,
Magnit had revenues of $18,202 million USD and an EBITDA of $2,032 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.