Resolutions passed by the Extraordinary General Meeting of LSR Group

19 February 2010

On February 19, 2010 LSR Group held its Extraordinary General Meeting of Shareholders.

The General Meeting approved a potential transaction by Open Joint Stock Company LSR Group (hereinafter the "Company") to enter into an underwriting agreement (the "Underwriting Agreement") relating to a possible offering of ordinary shares of the Company in the form of global depositary receipts and/or shares of the Company to Russian and international investors. Under the Underwriting Agreement, the Company and certain shareholders will provide certain representations and warranties and assume certain obligations in line with standard market practice, including but not limited to, indemnification of major local and international banks acting as underwriters. The Company's liabilities under such indemnification provisions may exceed fifty (50) per cent. of the book value of the Company's assets as of the last reporting date.

In addition, the General Meeting approved a transaction to enter into a surety agreement under which the Company will pledge its stake in OOO Cement in order to secure the obligations of OOO Cement arising under the credit facility provided by the State Corporation Bank for Development and Foreign Economic Affairs ("Vnesheconombank").

Please find a full version of the material fact here:

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, real estate development and panel construction.
LSR Group's main operations are located in St. Petersburg, Moscow, Yekaterinburg and Ukraine.
In 2008, the sales revenues of LSR Group were RUR 49,813m (IFRS).

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


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.
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