Change in ownership structure

For immediate release

Today, on 5 February 2010, OJSC LSR Group (LSE: LSRG; MICEX, RTS: LSRG) received a notification that its CEO and a member of the Board of Directors, Igor Levit, and Managing Directors Georgy Vedernikov and Evgeny Yatsyshin sold some of their shareholding in the company on the over-the-counter market.

The transactions were made for personal reasons. OJSC LSR Group was not a party to these transactions.

Igor Levit

CEO, member of the Board of Directors of OJSC LSR Group

Transaction volume: 495334 shares

Transaction value: RUR 295 183 310 Share in equity capital before sale: 2.48% Share in equity capital after sale: 1.95%

Transaction place: over-the-counter market

Transaction type: sale

Transaction date: 02.02.2010

Georgy Verernikov

Managing Director of Building Materials, Aggregates and Construction Services of OJSC LSR Group Transaction volume: 405333 shares

Transaction value: RUR 240 451 470 Share in equity capital before sale: 2.48% Share in equity capital after sale: 2.05%

Transaction place: over-the-counter market

Transaction type: sale

Transaction date: 02.02.2010

Evgeny Yatsyshin

Managing Director of Real Estate Development, Construction and Commercial Real Estate of OJSC LSR Group

Transaction volume: 731353 shares

Transaction value: RUR 450 279 220 Share in equity capital before sale: 2.48% Share in equity capital after sale: 1.7%

Transaction place: over-the-counter market

Transaction type: sale

Transaction date: 02.02.2010

Note to Editors:OJSC LSR Group is a real estate development and building materials production company founded in 1993 and operating in a number of complementary market segments. Its core business areas are building materials, construction and real estate development. The Group comprises enterprises involved in the extraction and processing of aggregates, production and transportation of building materials, and housing construction (ranging from mass market large-panel housing to elite property built based on designs by leading domestic and foreign architects). LSR Group has operations and offices in a number of cities in the Leningrad region, St. Petersburg, Moscow, Yekaterinburg, Lithuania, Latvia, Estonia, Ukraine and Germany. In 2007, the sales revenues of LSR Group (according to the IFRS-based financial statements) were RUR 35,858 million, in 2008 - RUR 49,813 million. LSR Group is a public company, with its GDRs listed and traded on the London Stock Exchange and its shares listed and traded on MICEX and RTS. In 2007, LSR Group was awarded 'The Company of the Year' National Award in the 'Construction' category.

For more details please contact:

LSR Group Press Service

Tel.: +7 812 314 10 44 Fax: +7 812 458 83 72

E-mail: [email protected]

www.lsrgroup.ru