On 7 April 2011, Annual General Meeting of Shareholders (hereafter the “AGM” or the “Meeting”) of OJSC LSR Group (LSE: LSRG; MICEX, RTS: LSRG) was held.

The AGM approved the Annual report of OJSC LSR Group for 2010 and financial statements for 2010 based on Russian Financial Reporting Standards (RFRS). The Shareholders Meeting also re-elected the Board of Directors, consisting of 9 members (including 4 independent directors):

1. Igor Levit, Managing Director of LSR Group.
2. Elena Tumanova, Chief Financial Officer of LSR Group
3. Mikhail Romanov, Managing Director of LSR Group.
4. Dmitri Gontcharov, Managing Director of LSR Europe GmbH (a subsidiary of LSR Group).
5. Olga Sheikina, Head of LSR Group Moscow Office.
6. Sergey Skaterschikov, Independent Non-Executive Director.
7. Kirill Androsov, Independent Non-Executive Director.
8. Ilgiz Valitov, Independent Non-Executive Director.
9. Vladislav Inozemtsev, Independent Non-Executive Director.
The Meeting for the first time decided to adopt a dividend of RUB 15.00 per ordinary share. Thus, the total number of dividends amounts to RUB 1,545,453,225 to be paid up to and including 6 June 2011 by postal transfer or settlement account transfer.
The Meeting elected the Check-up Committee of OJSC LSR Group including:
1. Dmitry Kutuzov, Deputy CFO, Head of Treasury and Planning of LSR Group.
2. Yury Terentyev, Director of Information and Analytics of LSR Group.
3. Natalya Klevtsova, Head of Liquidity Management.
The Meeting approved CJSC KPMG as auditor of the Company’s IFRS-based consolidated financial statements for 2011, and CJSC Audit-Servis as auditor of financial statements based on the Russian Accounting Standards.
 The Shareholders approved the revised Charter of OJSC LSR Group, revised Regulations on the Board of Directors.
The new Board of Directors re-electedIgor Levit as Chairman of the Board of Directors, Sergey Skaterschikov as Deputy Chairman of the Board of Directors and also the members of the Board committees as follows:

Audit Committee:
- Sergey Skaterschikov - Chairman.
- Kirill Androsov
- Vladislav Inozemtsev.
Human Resources and Compensations Committee:
- Sergey Skaterschikov - Chairman.
- Dmitri Gontcharov
- Olga Sheikina

Strategy and Investments Committee:
- Igor Levit -  Chairman.
- Kirill Androsov
- Vladislav Inozemtsev
- Sergey Skaterschikov
- Mikhail Romanov

 More information on the biography of BoD members is available at:

https://www.lsrgroup.ru/en/investors/gov/bod

  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. 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, Yekaterinburg and Ukraine.
In 2010, the sales revenues of LSR Group were RUB 49,950 million (IFRS).
LSR Group is a public company, with its GDRs traded on the London Stock Exchange and its ordinary shares traded on MICEX and RTS.