OOO GDSK Wins in the 1st Public Contest among Housing Market Players, ‘Consumer’s Trust’

On 4 October 2008, OOO GDSK (a subsidiary of LSR Group) became a winner in the 1st Public Contest among Housing Market Players, ‘Consumer’s Trust’ initiated by the Realty Consumers Commission of the Consumers Society of St. Petersburg and the Leningrad Region.

The contest was held in St. Petersburg for the first time. The organizers’ purpose was to identify the construction and real estate companies doing their business honestly and in good faith.

As a result of the vote, GDSK was awarded first place in category ‘Investment and Construction Company Enjoying the Highest Trust of Consumers in the Real Estate Market of St. Petersburg and the Leningrad Region.’ The voting process for the nominees in the three categories (construction and investment company, bank, realtor) was conducted in three phases: Internet voting based on which 10 companies were selected in each category; experts’ assessment; and interactive voting during the Housing Project workshop-exhibition held in St. Petersburg as part of the Civil Housing Forum from October 1st to October 5th.

Thus, the award confirms that the trust in GDSK shown by the residents of this city is not accidental. Attention to its customers, reliability and competitiveness are GDSK’s distinctive features. Moreover, GDSK is one of the few companies in the St. Petersburg’s real estate market that complies with Federal Law No.214 protecting investors’ rights in housing construction projects.

The experts’ board that selected the nominees for the final phase included specialists from the city’s construction and housing committees, Northwest Construction and Industrial Complex association and Realtors’ Association, and Consumers Society of St. Petersburg and the Leningrad Region.
According to Ekaterina Nemchenko, Commercial Director of OOO GDSK, “the award of the Consumer’s Trust contest is extremely valuable for the company. It is impossible to buy or borrow trust, it can only be earned through working honestly and laboriously every day. It is a sign of high appreciation of our activities aimed primarily at performing our undertakings in time and at good quality.”

Notes to Editors:

OOO GDSK is a member of LSR Group. The company founded in 2001 arranges investments and provides for the construction of mass market residential compounds acting as customer, investor and developer. Since 2003, GDSK has completed 25 projects in 10 different locations with a total area of 347,000 sq.m.

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.

LSR Group has two credit ratings: B1; outlook — Stable, assigned by Moody’s Investors Service, and B+; outlook — Stable, assigned by Fitch Ratings.

In 2007, LSR Group was awarded ‘The Company of the Year’ National Award in the ‘Construction’ category.

For more details please contact:

OOO GDSK
Ekaterina Ugrumova, Public Relations Manager
Tel.: +7 (812) 570-3263
Fax: +7 (812) 312-4318
e-mail: Ugrumova@gdsk.lsrgroup.ru

Press Service, LSR Group
Tel.: +7 (812) 314-1044
press@lsrgroup.ru
www.lsrgroup.ru