LSRG.L Regulatory News (LSRG)

LSR Group increases area of real estate development project in St. Petersburg

LSR Group (LSE: LSRG; MICEX-RTS: LSRG) signed a contract to acquire rights for land plots of around 4 hectares on Oktyabrskaya embankment in St. Petersburg, which are located next to mass market residential project "Oktyabrskaya Naberezhnaya" (55 hectares, 558,900 square metres). Thanks to this purchase, the total area of the project will be increased to 650,000 square metres. 

The project is now in design stage. Construction is scheduled to begin in 2015.

The project is being built within the framework of a large-scale program of LSR Group for the redevelopment of its own land assets occupied by industrial enterprises. Within the framework of this project, a large production complex specialising in reinforced concrete items which was located on Oktyabrskaya embankment, has now been moved to Leningrad region. The production of aerated concrete will be moved to the same region in the future. The land made available in the central part of the city on Neva River embankment will be used for residential construction.

Notes 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 2013 (according to DTZ), the net sellable area of the projects in LSR Group's real estate portfolio is equal to 7.8m m2 with the market value of RUB 117bn. In 2013, the sales revenue of LSR Group amounted to RUB 65,316m (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 information please contact:LSR Group Press ServiceTel.: +7 812 333 11 11Fax: +7 812 458 83 72E-mail: press@lsrgroup.ruwww.lsrgroup.ru