Change in shareholding

Today, on 7 May 2010, OJSC LSR Group (LSE: LSRG; MICEX, RTS: LSRG) has received notification from one of its shareholders, Streetlink Limited, regarding a change in its shareholding in the Company in connection with the 10% sale of the ordinary shares under the Global Offering.

Streetlink Limited's shareholdings before change: 58.38% Streetlink Limited's shareholdings after change: 48.38%

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, Moscow, Yekaterinburg and Ukraine. In 2009, the sales revenues of LSR Group were RUR 51,024 (IFRS).

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