The Board of Directors of LSR Group elects its Chairman, Executive Committee and President

On 1 July 2010, the Board of Directors (hereafter the “Board” or “BoD”), elected by the Annual General Meeting of Shareholders of OJSC LSR Group on 30 June 2010, was held for the first time, and elected its Chairman, members and chairmen of the committees, members of the Executive Committee and also a President of LSR Group.

The Board of Directors elected Igor Levit as a Chairman of the Board of Directors, and also the members of the Board committees as follows:

Audit Committee:
- Sergey Skaterschikov, Independent Non-Executive Director - Chairman.
- Kirill Androsov, Independent Non-Executive Director.
- Vladislav Inozemtsev, Independent Non-Executive Director.
- Igor Levit, Chairman of the Board of Directors.
- Elena Tumanova, Chief Financial Officer of LSR Group.

Human Resources and Compensations Committee:
- Sergey Skaterschikov, Independent Non-Executive Director - Chairman.
- Dmitri Gontcharov, Managing Director of LSR Europe GmbH (a subsidiary of LSR Group).
- Olga Sheikina, Head of LSR Group Moscow Office.

Strategy and Investments Committee:
- Igor Levit -  Chairman.
- Kirill Androsov, Independent Non-Executive Director.
- Vladislav Inozemtsev, Independent Non-Executive Director.
- Sergey Skaterschikov, Independent Non-Executive Director.
- Mikhail Romanov, Managing Director of LSR Group.

The Board of Directors has unanimously elected Alexandr Vakhmistrov, recommended by Igor Levit, as a President of LSR Group

The Board of Directors has also approved a number of members of the Executive Committee of LSR Group, (9 members), and elected its members:
1. Alexandr Vakhmistrov, President of LSR Group - Chairman
2. Igor Levit, Chairman of the Board of Directors.
3. Georgy Vedernikov, Managing Director of Building Materials, Aggregates and Construction Services of LSR Group.
4. Evgeny Yatsyshin, Managing Director of Real Estate Development, Construction and Commercial Real Estate.
5. Elena Tumanova, Chief Financial Officer, member of the Board of Directors
6. Georgy Bogachev, Head of Elite Real Estate
7. Vladimir Chernyaev, Head of Construction.
8.  Alexey Yushkov, Head of Sand Business Unit
9. Andrey Vedernikov, Head of Ready-Mix and Reinforced Concrete Business Unit.

Igor Levit, Chairman of the Board of Directors, commented:
“The current scale of LSR Group’s business, both in terms of the number of business lines and geographical operations, requires to introduce additional layers of corporate governance, aimed at more effective management, increased transparency and enhanced control of our business operations.  I believe that introduction of the Executive Committee into the corporate governance system of LSR Group, especially considering long-term experience of its members in the construction industry, as well as election of Alexandr Vakhmistrov, possessing broad managerial experience and profound knowledge of the industry, as a President of LSR Group, will allow the company to succeed in this initiative. On the other hand, my managerial and professional skills together with knowledge of the internal procedures will help me as a Chairman of the Board of Directors not only to improve the company’s strategy but also to control its execution. I believe that as a result of  these changes LSR Group will be able to achieve the new level of its successful development”.

Alexandr Vakhmistrov, President of LSR Group, commented:
“ I would like to thank the Board of Directors of LSR Group for their support. I am very interested in leading such a company as LSR Group. I especially value the opportunity to use my long-term managerial and professional experience in the large scale business and to be a part of the strong management team. I see LSR Group as a well-organized and well-positioned company. It is in fact the biggest construction company in St. Petersburg and one of the biggest in Russia. It is constantly growing, implementing a number of strategically important projects for the construction industry, improving its management systems. I am certainly attracted by an opportunity to take part in its further development and growth.  In addition I am sure that my experience with government authorities will add to the company’s success”.

Note to Editors:
Alexandr Vakhmistrov, President of LSR Group, Chairman of the Executive Committee
Born on 17 April 1954 in Stavropol.
In 1981 graduated from Leningrad Railway Engineers Institute named after Academician V.Obraztsov with a major in Industrial Construction and Civil Engineering Graduated from St. Petersburg University of the RF Ministry of the Interior with a major in Law in 2000.
Has the degree of Doctor of Economics, he is a professor of St. Petersburg State University of Architecture and Construction and St. Petersburg State Polytechnic University. Has the title of Honorary Academician of the Russian Construction Complex. He is a full member of the RF Academy of Investments and Construction Economics
Distinguished Builder of Russia. Honored Builder of the Russian Federation. Was awarded with the Order for Merits to the Fatherland, fourth degree, and the Order of Friendship. Earned two formal commendations of the RF President, as well as the RF Government Award of Science and Engineering.
From 1975 to 1994 was working at different enterprises of the construction industry getting through the way from a specialist to a general director. He was a Head of the construction department №399 of LPSMO Glavzapstroy, Operational Director of a joint Soviet-Finnish engineering company “Lentek”, General Director of a joint Soviet-Finnish construction company FILCO.
In 1994 was invited to the Construction Committee for the cooperation arrangement among the city Administration and the private investors, and was appointed to the position of a General Director of a statutory board “The Board of Investments” of St. Petersburg Administration Construction Department.
From 1996 to 2000 was a General Director of a statutory board “The Work Center for Bank Credits”.
From 2000 to 2003 was a Chairman of the Construction Committee of St. Petersburg Administration –St. Petersburg Vice Governor.
From 2003 to 2009, he was Vice Governor of St. Petersburg responsible for capital construction projects and property renovations, road building for developing new areas, architecture and urban planning, and the land policies of St. Petersburg for capital construction projects. He was a Chairman of the Coordinating Committee for developing and implementing the national project in St. Petersburg “Comfortable and Affordable Housing for Citizens of Russia”. Owing to the direct involvement of Alexandr Vakhmistrov St. Petersburg turned into a leading Russian region by the volume of housing completed annually and the implementation of the objectives set forth under the national project. Over the past five years, the housing construction volume in St. Petersburg has more than doubled.   
From 2009 to June 2010 he was St. Petersburg Vice Governor – Head of St. Petersburg Governor Administration.
From July 2010 he is a President of LSR Group.

Igor Levit, Chairman of the Board of Directors of LSR Group, member of the Executive Committee.
Born in 1971.  Graduated from St. Petersburg State Technical University in 1994. PhD in technical sciences. Awarded the classification of Honored Builder of Russia. He has been working in LSR Group and its subsidiaries since 1994.
In 1994-1995 he held a position of manager in OJSC Construction Corporation Renaissance (Revival) of St. Petersburg, from 1995 to 1997 he was a sales director of OJSC Zavod Tekon. From 1997 – a sales director of OJSC Lenstroykeramika. In 1999 he became a Deputy General Director of CJSC NPO Keramika, and then – a General Director. From 2002 –  Vice President and from 2004 – First Vice President of LSR Group. Since 2006 – he is CEO of LSR Group.
At present Igor Levit is a member of the Board of Aeroc International AS (Estonia) and of the Board of Directors of OJSC Betfor and OJSC Stroydetal.

Georgy Vedernikov, Managing Director of Building Materials, Aggregates and Construction Services of LSR Group, member of the Executive Committee.
Born in 1971. In 1993 graduated from the Faculty of Economics of St. Petersburg State University. PhD in technical sciences. Honored Builder of Russia.
Has been in the construction industry for 17 years, has experience in real estate development, construction and production of building materials. Has been in LSR Group since the year of its foundation – 1993.
Until 1997, he rose from a Head of a department to General Director of OJSC Construction Corporation “Renaissance (Revival) of St. Petersburg”, held a position of sales director of OJSC Lenstroyrekonstruktsiya. In 1997 he became a sales director of OJSC Lenstroykeramika, from 1997 to 2001 – he was its General Director. From 2001 Georgy Vedernikov was a First Deputy General Director of CJSC Gatchinsky DSK. In 2002 he was appointed a Vice President of LSR Group. Since 2006 and until now  he is a Managing Director of Building Materials, Aggregates and Construction Services of LSR Group.

Evgeny Yatsyshin, Managing Director of Real Estate Developent, Construction and Commercial Real Estate, member of the Executive Committee.
Born in 1970. In 1993 graduated from the Faculty of Economics of St. Petersburg State University,in 2001 – from International Management Institute St. Petersburg, Managerial Competency Program. Advisor to the Governor of St.Petersburg. Honored Builder of Russia.
Has been in the construction industry for 17 years. Has wide experience in development and construction. Has been working in LSR Group since the year of its foundation – 1993. Until 1995, he worked in OJSC Construction Corporation “Renaissance (Revival) of St.Petersburg”, first, he was a Deputy Head of real estate department, and then became a Head of real estate department.
From 1995 to 1997 –First Deputy General Director, then a General Director of OJSC GRST-6. In 1997 he became a First Deputy General Director of OJSC Lenstroyrekonstruktsiya, in 1999 he was appointed a Head of it. In 2000 – General Director of OJSC Construction Corporation “Renaissance (Revival) of St.Petersburg”. From 2002 – Vice President of LSR Group. From November 2003 to January 2005 he was a Chairman of the Committee for Construction of the St.Petersburg Government, then he became a Vice President of LSR Group again. Since August 2006 he is a Managing Director of Real Estate Development, Construction and Commercial Real Estate.

Elena Tumanova, Chief Financial Officer of LSR Group, member of the Board of Directors and Executive Committee of OJSC LSR Group.
Born in 1958. Graduated from Leningrad Shipbuilding Institute in 1981, St. Petersburg State University of Economics and Finance in 1995, International Banking Institute and Stockholm University Business School in 2007. Has a degree of Master of Economics and additional qualification – Master of Business Administration. Awarded the classification of Honored Builder of Russia. Has been working in LSR Group since the year of its foundation - 1993.
From 1993 till 2000 Elena Tumanova held a number of Chief accountant positions in the subsidiaries of LSR Group. Since 2000 and until now she is Chief Financial Officer of LSR Group.
Elena Tumanova is an auditor certified by the Russian Ministry of Finance and is also a member of the Russian Chamber of Auditors.

Georgy Bogachev, Head of Elite Real Estate of LSR Group, Managing Director of OJSC Construction Corporation “Renaissance (Revival) of St.Petersburg” and OOO Osobnyak, member of the Executive Committee.
Born in 1970. In 1993 graduated from the Faculty of Economics of St. Petersburg State University. In 2006 he was a student of the Faculty of Economics of Barcelona University. Honored Builder of Russia.
Has been in the construction industry for 17 years, has experience in residential and commercial real estate development and production of building materials. Has been in LSR Group since the year of its foundation – 1993.
Until 1997, he hold several key positions in OJSC Construction Corporation “Renaissance (Revival) of St.Petersburg” and OJSC Lenstroyrekonstruktsiya. From 1997 to 2000 – a sales director and then a General Director of OJSC Rudas. From 2000 to 2002 he was a Deputy General Director and then a General Director of OJSC Granit-Kuznechnoye.
In 2002 Georgy Bogachev was appointed a Vice President of LSR Group, in 2006 – a Deputy CEO of LSR Group and then a Managing Director of Commercial Real Estate. Since 2008 and until now – is a Head of Elite Real Estate of LSR Group, Managing Director of OJSC Construction Corporation “Renaissance (Revival) of St.Petersburg” and OOO Osobnyak.

Vladimir Chernyaev, Head of Construction of LSR Group, Managing Director of CJSC DSK Block and OJSC Gatchinsky DSK, member of the Executive Committee.
Born in 1957. In 2002 graduated from St.Petersburg State University of Architecture and Civil Engineering. Honored Builder of Russia. Distinguished Builder of Russia.
Has been in the construction industry for 32 years. Has been in LSR Group since 2002. Until 2004, he was a General Director of CJSC DSK Block. In 2004 he was appointed a Construction Director of LSR Group. In 2008 he became a Head of Construction pision of LSR Group. Since 2010 and until now he is a Head of Construction  of LSR Group, Managing Director of CJSC DSK Block and OJSC Gatchinsky DSK.

Alexey Yushkov, Head of Sand Business Unit, member of the Executive Committee.
Born in 1966. In 1992  graduated from the Faculty of Economics of St. Petersburg State University, in 2006 – from St. Petersburg State University of Economics and Finance,  Management Program. In 2001 he was a student of International Management Institute St. Petersburg, Managerial Competency Program.
Has been in the construction industry for 12 years. Has been working in LSR Group since 1998. From 1998-1999 he was a Chief Financial Officer of OJSC Rudas. In 1999 he became a Deputy General Director of OJSC Lenstroyrekonstruktsiya, then in 2000 he was appointed its General Director. From 2002 to 2006 – an Executive Director of LSR Group. From 2006 to 2008 Alexey Yushkov was a Head of Aggregates Business pision of LSR Group. Since 2008 and until now he is a Head of Sand Business Unit of LSR Group.

Andrey Vedernikov, Head of Ready-mix and Reinforced Concrete of LSR Group, member of the Executive Committee.
Born in 1975. In 2002 graduated from St. Petersburg State University. Honored Builder of Russia.
Has been in the construction industry for 14 years. Has been in LSR Group since 1996. He held a number of managerial positions in the subsidiaries of LSR Group, worked in aggregates extraction and construction. From 1997 to 2000 he was a Head of marketing department, a sales director and a General Director of OJSC Rudas. From 2002 he was a sales director, from 2003 to 2005 a General Director and from 2005 to 2008 – a Managing Director of CJSC PO Barrikada, from 2008 to 2010 – a Managing Director of OJSC Obyedineniye 45. From 2008 and until now he is a Head of Ready-mix and Reinforced Concrete of LSR Group.

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 million (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