LSRG.L Regulatory News (LSRG)

3 Jun 2008 13:00



NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN

For immediate release

LSR Group Fully Pays the Yield on the Third Coupon of OOO LSR-Invest Series 01 Bond Loan in the Amount of RUB 106.7 million

 OOO LSR-Invest, a 100% subsidiary of OJSC LSR Group founded specifically to raise funds for the Group's companies, has fully paid the yield on the third coupon of its Series 01 bonds totalling 106.7 million roubles. The bond interest rate was established at 10.7% p.a. The interest payable was 53.35 roubles per bond. Consequently, LSR Group has now paid the yield on the first three coupons of Series 01 bonds in the amount of RUB 320.1 million.

This is the second bond issue of LSR Group placed in December 2006 and worth RUB 2 billion. The total number of bonds issued was 2 million. The bond coupon rate at the time of placement was one of the lowest in the bonds market of Russian construction companies at 10.7%. 

NOTES TO EDITORS: 

OJSC LSR Group is a diversified construction company founded in 1993 and operating in a number of complementary market segments. Its core business areas are building materials, construction and real estate development. The Group includes enterprises for extraction and processing of aggregates, production and transportation of building materials, and housing construction - from mass market large-panel housing to elite property built after designs made by leading domestic and foreign architects. 

LSR Group has operations and offices in a number of cities in the Leningrad Oblast, in St. Petersburg, Moscow, Yekaterinburg, Lithuania, Latvia, Estonia, Ukraine and Germany. LSR Group employs over 15,000 people.

In 2005 and 2006, the revenues of LSR Group (according to IFRS statements) were $ 463 million and $ 777 million respectively. In 2007, the revenues amounted to $ 1,403 million.

In November 2007, OJSC LSR Group implemented an IPO, and now its GDRs are listed on the London Stock Exchange, and the shares - on MICEX and RTS.

LSR Group has a B1 rating, outlook - stable assigned by Moody's Investors Service in July 2007 and confirmed on 30 May 2008, and a B1 rating, outlook - stable assigned by Fitch Ratings on May 30 2008. 

In 2007, LSR Group was bestowed a National Award in the field of business as 'The Company of the Year' in the 'Construction' category.

For more details please contact:

Press Service, LSR Group 

Tel.: +7(812) 314-1044 

press@lsrgroup.ru

www.lsrgroup.ru

Legal disclaimer:

NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN

…

Some of the information in these materials may contain projections or other forward-looking statements regarding future events or the future financial performance of the Company. You can identify forward looking statements by terms such as "expect", "believe", "anticipate", "estimate", "intend", "will", "could," "may" or "might" the negative of such terms or other similar expressions. The Company wishes to caution you that these statements are only predictions and that actual events or results may differ materially. The Company does not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of the Company, including, among others, general economic conditions, the competitive environment, risks associated with operating in Russia, rapid technological and market change in the industries the Company operates in, as well as many other risks specifically related to the Company and its operations.

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