LSR Group fully fulfilled its obligations on the put option

28 July 2009

On 27 July, LSR Group executed the second stage* of put option on its third domestic bond issue of Series 02. LSR-Invest LLC, a 100 percent subsidiary of OJSC LSR Group and a formal issuer of this series of bonds, bought back the issue after the end of the fourth coupon period.  Within the second stage of the put option 1 236 bonds with a nominal value of RUR 1,000 each  of a total amount of RUR 1,242,328 (including accumulated coupon payment) were bought back at the request of bondholders. Thus, LSR Group fully fulfilled its obligations on the put option.

In total during 2 stages of the put option 2,969,094 bonds of RUR 2 969 100 328 (including accumulated coupon payment) were bought back.
After the put option 906 bonds remain in the market.
It is the third bond issue of LSR Group that was placed in July 2007 in the amount of RUR 3 billion.

*In accordance with the prospectus the put option is exercisable in two stages:
First stage –  16 July – for bondholders who applied from 7 to 13 July
Second stage – 27 July – for bondholders who applied from 13 to 16 July.

Note to  Editors:
OJSC LSR Group  is a real estate and building materials company founded in 1993 and operating in a number of complementary market segments. Its core business areas are building materials, construction and real estate. 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 RUB 35,858 million, in 2008 – RUB 49,813 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:
LSR Group Press Service

Tel.: +7 812 314 10 44
E-mail: press@lsrgroup.ru
www.lsrgroup.ru

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