LSR Group signs contract for housing construction

LSR Group signs contract for housing construction in the Moscow region

CJSC DSK Block (a subsidiary of LSR Group) signed a contract with Chief Army Support Department for construction of two residential buildings for the military personnel in Saltykovka (Balashikha), the Moscow region. The contract value is RUB 1.536 bn.

Under the contract DSK Block is to provide design services and construct two 17-storey houses (568 apartments with a total area of 38,802 square meters). Construction works are expected to be completed by November 2012.

The new residential buildings are to be built using the "seamless" facade technology and reinforced concrete products of DSK Block.

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 2010, the sales revenues of LSR Group were RUB 49,950 million (IFRS).LSR Group is a public company, with its GDRs traded on the London Stock Exchange and its ordinary shares traded on MICEX and RTS.

CJSC DSK Block is one of the market leaders in St. Petersburg in the manufacture and construction of prefabricated housing. Founded in 1992, it is the only company in the market of St. Petersburg using the "seamless" facade technology.

 In 2009, DSK Block became the winner in the contest of contractors working for the needs of St. Petersburg and was awarded the status of "Best Building Contractor for the Needs of St. Petersburg's Public Procurement". In 2010, the company was awarded the Diploma of St. Petersburg Governor for "Substantial Contribution to Development of St. Petersburg Construction Industry".

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