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LSR Group

September 9, 2008

New premium class fitness centre to be built outside Moscow

ZAO Mosstroyrekonstruktsiya (a company of LSR Group) has proceeded with the building of a unique fitness centre in Grunwald, an elite residential development currently under construction by the company in Zarechiye. The developer’s efforts will allow to make Moscow level health and fitness facilities available to those living outside the capital city.

The three-storied fitness centre with an area of 2,185 sq.m will supplement the architectural ensemble of the Grunwald neighbourhood composed of thirteen club-style buildings. The residents and the management company will employ a professional operator to implement the concept developed for Mosstroyrekonstruktsiya by R-Fitness, a company that owns a network of Reebok sports clubs. The sports and leisure centre will be open daily all year round and will have a capacity of 200 people per day. The total investments in construction will be around US$ 6 million.

Sergey Choban, the author of Grunwald neighbourhood’s architectural concept commented:

“Unlike most of fitness centres opening nowadays the Grunwald’s facility will not be located inside any building but will be provided with an independent architectural volume of its own. This has allowed not only to develop a unique multifaceted functional concept of a fitness institution but also to provide a striking accent to the architectural and layout solution of the neighbourhood as a whole. The fitness centre is located at the end of the central promenade alley and looks like a coloured glass statue placed in space and having a shell that makes a striking contrast with the more solid-looking residential buildings of the compound.”

The fitness centre meets the top international standards offering to its guests:

• Sports swimming pool with aqua aerobics and massage areas
• Weight rooms and a cardio theatre
• Beauty parlour and cosmetics rooms
• Massage and tallasotherapy rooms
• Russian bath and Turkish bath (hamam)
• Tanning room, Vishy shower and thermasonic
• Restaurant bar with a winter garden
• Usable roof with a mini golf court
• Children’s club and a splash pool

Mosstroyrekonstruktsiya aims at creating a facility that will not be inferior to its counterparts located downtown so that even after leaving Moscow people would not feel deprived of the conveniences they have access to in the capital.

Notes to Editors

ZAO Mosstroyrekonstruktsiya is an investment and construction company founded in 2001. Today Mosstroyrekonstruktsiya is a leading Moscow market player in the business and premium class segments of real estate. In 2007, the company completed its first project, the Dom na Davydkovskoy business class residential compound. Currently the company is implementing a unique project, the Grunwald elite residential development, as well as the New Balchug multi-purpose business complex at Sadovnicheskaya Street just 500 m from the Kremlin. In 2008, the company has strengthened its presence in Moscow’s commercial property market through the acquisition of property complexes at Leningradskoye Shosse and Golovinskoye Shosse where it proposes to construct Class A multi-purpose business complexes.

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 US$ 463 million and US$ 777 million respectively. In 2007, the revenues amounted to US$ 1,403 million.

LSR Group has a B1 rating from Moody’s Investors Service (outlook – Stable) assigned in July 2007 and confirmed on 30 May 2008 and a B+ rating by Fitch Ratings (outlook – Stable) assigned on 30 May 2008. The Group’s shares are listed on MICEX and RTS and on the London Stock Exchange in the form of GDRs since its IPO in November 2007.

In 2007, LSR Group was awarded ‘The Company of the Year’ National Award in the ‘Construction’ category.

 

 

 

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