LSRG.L Regulatory News (LSRG)

Decisions of Board of Directors

On April 2, 2012 Board of Directors of OJSC LSR Group (LSE: LSRG; MICEX, RTS: LSRG), hereinafter - LSR Group, reviewed all the items of the agenda and decided the following:

1. To approve LSR Group audited financial statements for 2011 (IFRS). To approve LSR Group financial and operational performance statements for 2011.

2. To take into account KPMG management letter.

3. To approve results of implementation of the key performance indicators of the LSR Group management incentive program for 2011.

4. In accordance with item 14.2, sub-item 31 of the Charter, to approve the decision for LSR Group to cancel membership in Non-Commercial Partnership "Russian-Chinese Business Council".

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 and the Leningrad region, Moscow and the Moscow region, Yekaterinburg and the Urals. As of 31 December 2011 (according to Cushman & Wakefield), 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 124.4bn.In 2011, the sales revenues 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 CJSC MICEX.

For more details please contact:LSR Group Press ServiceTel.: +7 812 314 10 44Fax: +7 812 458 83 72E-mail: press@lsrgroup.ruwww.lsrgroup.ru