LSR Group announced that Evgeny Yatsyshin has rejoined LSR as First Deputy CEO. He is now responsible for real estate development business in all regions of operations. Mr. Yatsyshin has more than 20 years experience in the Russian real estate and construction industry.

He worked at LSR from its founding days in 1993 to 2011. He took temporary leave of absence from 2003 to 2005 to serve a term as Chairman of the Construction Committee of St. Petersburg Government.

Aleksandr Vakhmistrov was elected as Chairman of the Board of Directors and also continues as First Deputy CEO. The Board of Directors reduced the size of the Executive Committee by more than half to seven people in order to improve the committee's efficiency. The Board believes the Executive Committee as a platform for decision making and in-depth discussion of the key business matters would be more effective with a smaller team.

The following have been elected to the Executive Committee: Andrey Molchanov, Chief Executive Officer, Chairman of the Executive Committee; Galina Volchetskaya, Executive Director; Yuri Ilyin, Chief Commercial Officer; Vasily Kostritsa, Deputy CEO (building materials); Andrey Nikitin, Chief Financial Officer; Leonid Sorokko, Deputy CEO (construction); Evgeny Yatsyshin, First Deputy CEO (real estate development). Aleksandr Vakhmistrov was elected as Chairman of the Board and Dmitri Gontcharov as Deputy Chairman of the Board. Two new independent directors, Vitaly Podolsky and Alexander Prisyazhnyuk, were elected to the Board to bring a fresh perspective to LSR Group's strategy and corporate governance.

Both Mr. Podolsky and Mr. Prisvyazhnyuk have extensive management and board experience at top Russian companies. Mr. Podolsky was CFO in X5 Retail Group and is a board member at several companies including Cherkizovo. Mr. Prisyazhnyuk serves on the boards of leading Russian retailers M.Video and Dixy.