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21 Jan 2014 10:21
DRAFT FIGURES AND TEXT IN RELEASED ANNOUNCEMENT
The following replaces company's announcement 'New development project in Moscow' released on 20/01/2014 at 7-00 (UK time) under RNS No 0240Y.
As previously released the announcement contained elements of draft text and draft figures.
The full amended text is shown below.
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LSR Group starts new development project in MoscowLSR Group is to build a low-rise comfort-class residential project with total area of 440 th m2 in Moscow.The project will comprise low-rise apartment blocks up to 5 storeys high with new sellable area of 300 th m2. The construction of this project is scheduled to begin in 2015 and will be completed by 2018.Ivan Romanov, Managing Director of LSR Group (Moscow), comments:"Moscow market is very attractive for business due to its capacity and high demand. In accordance with our strategy, we plan to increase our real estate portfolio in the area. Here in Moscow we have enough capacity, both in construction and building materials, to carry out such projects. We believe that this new project will be very successful on the market because of its favourable location, good transport infrastructure and strong demand for housing in Moscow".
Notes to Editors:OJSC LSR Group is a diversified construction company operating in a number of complementary market segments. The company was founded in 1993. Its core business areas are production of building materials, panel construction and real estate development. The company unites business units for extraction and processing of aggregates, production and transportation of building materials, construction upon projects of leading Russian and foreign architects - from mass-market to elite residential properties. LSR Group's main operations are located in St. Petersburg, Leningrad region, Moscow, Moscow region, Yekaterinburg and Ural region. As of 31 December 2012 (according to Cushman & Wakefield Russia), the net sellable area of the projects in LSR Group's real estate portfolio is equal to 8.7m m2 with the market value of RUB 120bn. In 2012, the sales revenue of LSR Group amounted to RUB 61,122m (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.: +7 812 314 10 44Fax: +7 812 458 83 72E-mail: press@lsrgroup.ru
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