LenSpetsSMU repaid two ROSBANK credits in full and on time

06.07.2009

On Friday, 03 July, CJSC SSMO LenSpetsSMU paid off two credits of ROSBANK totalling 166.0 million rubles in full and on time.

ROSBANK’s credits were allocated to provide land plots for residential construction with the community infrastructure within the framework of the subprogram “Provision of land plots with communal infrastructure for the purposes of residential construction” of the federal purpose-oriented program “Housing” for 2002-2010 (Minutes No.13 of the Rosstroy Committee meeting dated 30.04.2008). In accordance with this program two multi-building development projects of LenSpetsSMU (“Rainbow” – with a total building area of 180,000 m2 and “Jubilee Complex” – with a total building area of 650,000 m2) were approved by the Rosstroy Committee as investment projects for subsidies provision for the reimbursement of expenses of interest payment on credits received from the Russian credit institutions.

More detailed information can be found on the company’s financial site.

CONTACT DETAILS

Mikhail Dukhovny, Director of Corporate Communications Department
Telephone: +7 (812) 348-21-25, e-mail: dukhovny_m@lenspecsmu.ru

Victor Vasenev, Deputy CFO
Telephone: +7 (812) 348-09-95, e-mail: vasenev_v@lenspecsmu.ru