Deutsche Bank announces its appointment as depositary bank for the Regulation S London Stock Exchange-listed and Rule 144A Global Depositary Receipt (GDR) programs of LSR Group.

Founded in 1993, LSR is one of the leading real estate development, construction and building materials companies in St. Petersburg and the Leningrad region, combining two complementary market leading businesses. LSR is one of the leaders in the development of elite residential real estate projects in St Petersburg and a significant developer of mass-market real estate there. LSR also has a market leading position in the production of building materials and aggregates in St Petersburg and the surrounding Leningrad region.*

Akbar Poonawala, Head of Global Equity Services (GES) at Deutsche Bank said, "As a leading provider of Depositary Receipt services in Russia, we are pleased to be appointed by LSR Group on its GDR program. We look forward to working with the company and providing its investors with the highest level of service."

*Source: OJSC LSR Group (November 2007)

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Deutsche Bank

Oonagh Baerveldt                       
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Deutsche Bank's Trust & Securities Services business, part of Global Transaction Banking, is one of the leading providers of trustee, agent, depositary, registrar, SPV management and related services for a wide range of debt financings including bonds, medium term note and commercial paper programs, asset backed and mortgage backed securities, collateralized debt obligations, project financings, escrows and syndicated loans. It is also one of the leading depositaries for American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs), and, through a fully integrated network of specialist offices worldwide, provides domestic custody services in 28 securities markets.