OREANDA-NEWS. June 29, 2011. The Board of Directors of OJSC LSR Group (LSE: LSRG; MICEX, RTS: LSRG) following the requirements of the United Kingdom legislation (Bribery Act), approved the Declaration on prevention of the bribery.

 The Board of Directors OJSC LSR Group, recognizing the community of interests of private business and taking into consideration the efforts of the world community in sphere of counteraction of corruption, Expressing loyalty to the transparence principles, ethical principles, and social responsibility of business, Welcomes the development of anticorruption legislation in Europe and Russian Federation, in particular, coming into force the Law of bribery in the United Kingdom.

The Board of Directors confirms the categorical unacceptability of bribery for LSR Group and other corruption in any situations.

The Board of Directors calls to management and employees of the enterprises of Group LSR, and also any other persons operating in the interests of Group LSR, to promote struggle against any displays of corruption.

The board of directors intends to continue the participation in introduction of effective procedures of counteraction of any corruption in Group LSR.

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.