LSR Group acquires new project in Moscow

LSR Group acquires new project in Moscow

LSR Group (LSE: LSRG; MICEX-RTS: LSRG) acquired new residential project in Moscow in Solntsevo district with a total area of 990 thousand square metres. The project provides for the construction of 15- to 25-storey buildings. According to the metropolitan development program in 2017 new metro station - Solntsevo will be opened just 200 metres away.

The construction will start in 2015. Completion of the project is expected by the end of 2019.

Ivan Romanov, managing director of LSR Group in Moscow, comments: "Our new project is a major event for the capital's real estate market, especially since there is a significant lack of land for residential construction in Moscow. Because of the scale and location of the new project in a prestige district of the city, we expect great interest from potential buyers.

In accordance with LSR Group strategy, we continue to increase our presence in Moscow. The total area of real estate projects portfolio (redevelopment of ZIL plant, the construction of Donskoy Olymp business class residential project in the centre of Moscow, the construction of Novoye Domodedovo and Nakhabino Yasnoye projects, and the new project in Solntsevo) has already exceeded 3 million square metres".

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