Date and place of AGM

Date and place of AGM

On February 7, 2012 the Board of Directors of OJSC LSR Group (LSE: LSRG; MICEX, RTS: LSRG), hereinafter - "LSR Group" or the "Company" , one of the leading real estate developers and building materials producers in Russia, approved 5 April 2012 as the date of Annual General Shareholders Meeting.Date of meeting: April 5, 2012Time of meeting: 11:00 amPlace of meeting: conference-hall, 1 Nevsky, St. PetersburgRecord date for Annual General Shareholders' Meeting: February 17, 2012Start of registration of persons entitled to attend the General Shareholders' Meeting: 10:00 amAddress for sending filled-in voting ballots: 36 Kazanskaya str., St. Petersburg, 190031

The meeting agenda as well as the process of documents' review and the address where they are available, will be determined by the Board of Directors after the deadline for proposals regarding items to be included into the agenda, defined by 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. 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