The Board of Directors of OJSC LSR Group approved 10 December 2009 as the date of Extraordinary General Meeting of Shareholders of the Company with th

Approval of decisions on approving transactions in the cases provided for in Article 83 of the RF Federal Law on Joint Stock Companies.

Time of meeting: 11:00 am
Place of meeting: Suite 715, 36 Kazanskaya Street, St. Petersburg
Date of preparing the list of persons entitled to attend the General Shareholders’ Meeting: 16.11.2009.

In addition, the Board of Directors approved 2 issues of 2 million bonds and 1.5 million bonds respectively with a nominal value of RUR 1,000 each. Redemption period is 3 years since the date of placement.

Elena Tumanova, CFO of LSR Group commented:
“We are not currently planning to place the bonds immediately. As far as there are no restrictions concerning terms of placement after registration of the issues, we have an opportunity to make the issue when we judge market conditions to be most favourable. Consequently, we will also determine the issue rate depending on the situation on the debt markets and on the rate of return offered by investors.”

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 RUR 35,858 million, in 2008 – RUR 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