BoD Date and Agenda - replacement

LSR Group's announcement released on 02/02/2012 at 8:50 under RNS No 6713W has been amended. 

Amendments are:

The date with an asterisk (*) has been changed

 All other details remain unchanged. The full amended text is shown below.

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Date and agenda of Board of Directors

OJSC LSR Group (LSE: LSRG; MICEX, RTS: LSRG), hereinafter - "LSR Group" or "Company, announces meeting of the Board of Directors on February 7, 2012*. 1. Annual General Shareholders Meeting of LSR Group

2. Review of the management incentive program for 2012

3. 2011 Reports of the Board Committees

4. Transactions' approval in accordance with the Company's Charter.

February 17, 2012 - planned record date for Annual General Shareholders Meeting, which agenda includes dividend pay-out decision on ordinary shares against the results of the year ended 31 December 2011.

The list of shareholders entitled to receive dividends is compiled on the record date for Annual General Shareholders Meeting which agenda includes decision on the dividend pay-out.

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. Nowadays LSR Group is one of the largest real estate development and building materials producing companies in Russia. 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. As of 31 December 2010 (according to DTZ Russia), the net sellable area of the projects in LSR Group's real estate portfolio is equal to 8.4m m2 with the market value of RUB 104bn.

In 2010, the sales revenues of LSR Group were RUB 49,950m (IFRS).

LSR Group is a public company, with its GDRs traded on the London Stock Exchange and its ordinary shares traded on OJSC MICEX-RTS.

For more details please contact:LSR Group Press ServiceTel.: +7 812 314 10 44Fax: +7 812 458 83 72E-mail: [email protected]www.lsrgroup.ru