New residential complex in St.Petersburg

OJSC LSR Group is starting to develop a new residential complex, "Yuzhnaya Akvatoriya", on the Gulf of Finland, in the Krasnoselskiy district of St. Petersburg. LSR Group was the first company in St. Petersburg to obtain a construction permit through newly established procedure.

Multi-storey residential complex with a total area of 346.2 th sq m will be built on the land plot of 23,9 ha by OOO GDSK.

The construction permit was received for a multi-storey residential building comprising 1,373 apartments. Its total area amounts to 90 th sq m, including built-in premises and two multi-storey parkings of 20.2 th sq m for 600 cars - which is approximately one-third of the total area of the complex.These objects are planned for construction in 3Q2014.

The new complex will be built using energy-efficient "seamless" facade fit-out technology which provides high insulation properties and comfort micro-climate, compared to traditional prefabricated buildings.

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 and Yekaterinburg. As of 31 December 2011 (according to Cushman & Wakefield 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 124bn.In 2011, the sales revenue of LSR Group were RUB 51,910m (IFRS).LSR Group is a public company, with its GDRs traded on the London Stock Exchange and its ordinary shares traded on 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