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LSR Group announces the results of pre-emptive right offering

29 June 2010

OJSC LSR Group (LSE: LSRG; MICEX, RTS: LSRG) has summarized the results of the pre-emptive right offering to purchase additionally issued ordinary registered book-entry shares  of OJSC LSR Group (registered in FFMS of Russia under unified state registration number 1-01-55234-Е-002D on 8 April 2010) placed by open subscription.

The list of shareholders who had pre-emptive rights to purchase the new shares was complied as of 5 March 2010. The total number of shares to be placed was 16,042,508 shares, with a par value of RUR 0.25. The placing price of the new shares for pre-emptive rights holders was set by the Board of Directors of OJSC LSR Group on 30 April 2010 at US$ 41.33 per share.

One application was received in respect of the pre-emptive rights of existing shareholders and, therefore, 9,366,383 shares have already been placed.

Thus, the total number of shares yet to be placed is 6,676,125. The placing price of the shares was set by the Board of Directors of OJSC LSR Group on 30 April 2010 at US$ 45.92 per share. A potential buyer can make an offer to buy shares by a written application in the prescribed form to the CJSC VTB Capital, a professional participant on the securities market and a provider of share placement services to LSR Group. Offers can be made from the date of publication of this announcement until 6 p.m. (Moscow time) on 30 June 2010. Application forms in Russian are available at: http://www.lsrgroup.ru/investors

Please note that placing of the additionally issued ordinary registered book-entry shares of OJSC LSR Group is aimed at reinvestment of the proceeds, received from the Secondary Public Offering, announced this spring by LSR Group into the company.

Note to Editors:
OJSC LSR Group is a real estate development and building materials company founded in 1993 and operating in a number of complementary market segments. Its core business areas are production of building materials, real estate development and panel construction.
LSR Group's main operations are located in St. Petersburg, Moscow, Yekaterinburg and Ukraine.
In 2009, the sales revenues of LSR Group were RUR 51,024 (IFRS).
LSR Group is a public company, with its GDRs traded on the London Stock Exchange and its ordinary shares traded on MICEX and RTS.

For more details please contact:
LSR Group Press Service
Tel.: +7 812 314 10 44
Fax: +7 812 458 83 72

E-mail: press@lsrgroup.ru
www.lsrgroup.ru


Disclaimer:
Neither these materials nor any copy of it may be taken or transmitted into the United States, Australia, Canada or Japan. These materials do not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to purchase nor shall it (or any part of it) or the fact of its distribution, form the basis of, or be relied on in connection with, any contract therefor. The offer and the distribution of these materials and other information in connection with the listing and offer in certain jurisdictions may be restricted by law and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
These materials are not an offer for sale of any securities in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933. The Company has not registered and does not intend to register any portion of any offering in the United States or to conduct a public offering of any securities in the United States.
This communication is not an invitation nor is it intended to be an inducement to engage in investment activity for the purpose of section 21 of the Financial Services and Markets Act 2000 (as amended) of the United Kingdom. To the extent that this communication does constitute an inducement to engage in any investment activity included within this press release, it is directed only at (i) persons who are outside the United Kingdom or (ii) persons who have professional experience in matters relating to investments falling within Article 19(1) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") and (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as "relevant persons"). Any investment activity to which this communication relates will only be available to and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.
This communication is distributed in any member state of the European Economic Area which applies Directive 2000/71/EC (this Directive together with any implementing measures in any member state, the "Prospectus Directive") only to those persons who are investment professionals for the purposes of the Prospectus Directive in such member state, and such other persons as this document may be addressed on legal grounds, and no person that is not a relevant person may act or rely on this document or any of its contents.    

«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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