Start of pre-sales in Avrora-2 residential complex

LSR Group starts pre-sales in Avrora-2 residential complex

OJSC LSR Group announces start of pre-sales in Aurora-2 residential complex with a total area of around 120 th sq m for 2,500 apartments built on the land plot of 7.3 ha. This would be the second phase of a large-scale residential neighbourhood, Avrora, which is currently under construction in the Nevskiy district of St. Petersburg.

Avrora-2 residential building comprises 8 blocks of 8 to 25 storeys. The area of one, two- and three-room apartments vary from 35 to 85.7 sq m. All the apartments will be transferred to customers fitted-out.

Large-scale Avrora residential neighbourhood of approximately 260 th sq m is under development on the land plot of 15 ha. Construction is conducted in two stages - construction of Aurora and Aurora-2 residential complexes. The whole complex is scheduled for completion at the end of 2014.

The complex is constructed using prefabricated housebuilding technology by DSK Blok The "seamless" facade fit-out technology based on energy-efficient and European-quality insulation materials guarantees 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 Service

Tel.: +7 812 314 10 44

Fax: +7 812 458 83 72

E-mail: press@lsrgroup.ru

www.lsrgroup.ru