Date and agenda of Board of Directors

Date and agenda of Board of Directors

St. Petersburg, Russia - 16 September 2011 - LSR Group (LSE: LSRG; MICEX, RTS: LSRG), hereinafter - "LSR Group" or "the Company", announces meeting of the Board of Directors of LSR Group on September 20, 2011.

Agenda:

1. Approval of reports in accordance with the Company's Charter.

2. Review of the management letter of KPMG.

3. Review of the annual plan execution based on the performance in 1H 2011.

4. Strategic plans for 2012-2015.

5. LSR Group management structure.

6. Decision on the number of members in the Executive Committee and their terms. Election and appointment of Executive Committee's members.

7. Approval of the internal documents in accordance with the Company's Charter.

8. Securities placement, approval of the decision to issue securities, approval of the Prospectus on securities in accordance with the Company's Charter.

9. Approval of the transactions in accordance with the Company's Charter.

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 ServiceTel.: +7 812 314 10 44Fax: +7 812 458 83 72E-mail: [email protected]www.lsrgroup.ru