LSR Group BoD elected new Executive Committee

On September 20, 2011 the Board of Directors of OJSC LSR Group (LSE: LSRG; MICEX, RTS: LSRG) took the decision to increase the number of the Executive Committee members from 7 to 10 people.

The Executive Committee was elected as follows:

1. Aleksandr Vakhmistrov, Chief Executive Officer - Chairman of the Executive Committee.
2. Elena Tumanova, Managing Director, Member of the Board of Directors, Deputy Chairman of the Executive Committee.
3. Georgy Bogachev, Director of Strategy and Business Development.
4. Vlladimir Loginov, Chief Legal Officer.
5. Ivan Romanov, Managing Director.
6. Kliment Falaleev, Managing Director.
7. Vladimir Chernyaev, Head of Construction.
8. Dmitry Khodkevich, Managing Director of Real Estate. North-West Business Unit.
9. Vasily Kostritsa, Managing Director of Aggregates & Ready-mix Concrete. North-West Business Unit.
10. Lev Vinnik, Deputy General Director of LSR-Stroy.

In addition, the Board of Directors approved the decision to place 2 bond issues of OJSC LSR Group and Prospectus on the securities:

1. Series 03 certificated interest-bearing non-convertible bearer bonds with a total value of RUB 3 billion. The issue volume is 3 million bonds with the nominal value of RUB 1,000 each.

2. Series 04 certificated interest-bearing non-convertible bearer bonds with a total value of RUB 5 billion. The issue volume is 5 million bonds with the nominal value of RUB 1,000 each.

Both bond issues have maturity of 1 820 days each as of the placement date and can be redeemed at the request of the owners and at the discretion of the issuer.

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 and the Leningrad region, Moscow and the Moscow region, Yekaterinburg and the Urals region.
In 2010, the sales revenues of LSR Group were RUB 49,950 million (IFRS).
LSR Group real estate portfolio amounts to 8.4 million sq. m with the market value of RUB 104 billion (according to DTZ valuation as of 31 December 2010).
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