On 17 October 2008, a regular meeting of the Board of Directors of OJSC LSR Group resolved to hold an Extraordinary General Shareholders Meeting on 29

On 17 October 2008, a regular meeting of the Board of Directors of OJSC LSR Group resolved to hold an Extraordinary General Shareholders Meeting on 29 December 2008.

The agenda of Extraordinary General Shareholders Meeting is defined as:

1. Early termination of the powers of the members of the Company’s Board of Directors.*
2. Determination of the number of the members of the Company’s Board of Directors.
3. Election of the members of the Company’s Board of Directors.

Date of meeting: 29 December 2008.
Time of meeting: 11:00.
Venue: 36 Kazanskaya Street, St. Petersburg.
The beginning of registration of the persons entitled to attend the General Shareholders Meeting will take place from 10:00.
Date of preparing the list of persons entitled to attend the General Shareholders Meeting: 27.10.2008.

* In conformity with the existing Russian legislation, any change in the composition of the board of directors of a company may only be effected through early termination of the powers of the existing board with subsequent re-election.

Notes to Editors:

OJSC LSR Group is a diversified construction company founded in 1993 and operating in a number of complementary market segments. Its core business areas are building materials, construction and real estate development. The Group includes enterprises for extraction and processing of aggregates, production and transportation of building materials, and housing construction — from mass market large-panel housing to elite property built after designs made by leading domestic and foreign architects.
LSR Group has operations and offices in a number of cities in the Leningrad region, in St. Petersburg, Moscow, Yekaterinburg, Lithuania, Latvia, Estonia, Ukraine and Germany. LSR Group employs around 18,000 people.
In 2007, the sales revenues of LSR Group (according to the IFRS-based financial statements) were US$ 1,403 million.
LSR Group is a public company, with its GDRs listed and traded on the London Stock Exchange and its shares listed and traded on MICEX and RTS.
In 2007, LSR Group was awarded ‘The Company of the Year’ National Award in the ‘Construction’ category.

For more details please contact:
Press Service, LSR Group
+7 (812) 314-1044
press@lsrgroup.ru
www.lsrgroup.ru