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In 2008 LSR Group doubled the volume of the completed residential real estate in Yekaterinburg

22 January 2009

ZAO Nova-Stroy (a subsidiary of LSR Group) completed twice more residential real estate in 2008 compared to 2007.

In 2008 Nova-Stroy completed 81.2 th sq. m. of net sellable area of real estate, including 73.9 th sq.m. of residential area. It is approx twice more than last year – in 2007 the company completed 47.7 th sq.m. of net sellable area, including 38.5 th sq.m. of residential area.

During the last year the company completed 20 real estate projects, including 3 offices and 17 residential developments. The completed residential developments are located in Koltsovo, Uralmash, Elmash and Zarechny city districts. In total they are composed of 1,482 flats most of which have been sold.

Sergey Malafeev, General Manager of Nova-Stroy commented:

“Last year we managed to double the volume of our residential construction which in my view confirms the professionalism and commitment of our team and the reliability of our company and demonstrates the advantages which the company obtained under the roof of the new owner LSR Group. Delivering on our commitments to complete the significant volume of real estate on time we count on the continuous trust of our customers in the future.”

Notes to editors:

ZAO Nova-Stroy is one of the leading construction companies in Yekaterinburg and the part of LSR Group since 2008. The company’s core businesses are district development and the construction of new neighborhoods including housing construction combined with office and retail space, parking lots and social infrastructure in the economy and business class segments.
In 2007 the company was the 3rd largest construction company in terms of the volume of completed real estate in Yekaterinburg in accordance to the statistics of Yekaterinburg Construction Committee.

LSR Urals – the business division of LSR Group located in Urals region of Russia where LSR Group creates the business model combining the production of building materials and real estate development replicating its core business in St Petersburg.
Today LSR Urals includes business units operating in real estate development, construction and production of building materials: ZAO Nova-Stroy, OOO PKU Nova-StroyProekt, SMU Nova-Stroy, and Uralsheben as well as the largest prefabricated panel factory “Betfor”.

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.
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

Press Service, LSR Ural
+7 (343) 215-88-75
kataeva@lsrgroup.ru

«LSR Group» discloses information on the page on the Internet of LLC Interfax-TsRKI — the news agency accredited by the Central Bank of the Russian Federation to disclosure of information.
Information is available here.



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