LenSpetsSMU makes a presentation for investors in Moscow

26.04.2010

On 22nd April 2010, a presentation of LenSpetsSMU’s stock-exchange bonds for investors took place. About 80 representatives from more than 40 banks took part in the meeting held in Marriott Moscow Grand hotel. The arrangers of the meeting are OJSC Alfa-bank and OJSC Promsviazbank.

Within the framework of the official part of the presentation the company’s management reported in detail the latest developments of the company, operating activity results, real estate market prospects and objectives of the placement. After the speaking those who so desired had the opportunity to ask all questions they were interested in.

After the official part all invitees continued to exchange views in free mode. Some participants noted that LenSpetsSMU’s presentation became the first full meeting with the investors in such mode in post-crisis period.

The loan parameters are as follows:

Form of issue: stock-exchange bonds

Issuer: CJSC SSMO LenSpetsSMU

Series: BО-02

Identification No. of the issue: 4B02–02-17644-J dated 12.04.2010.

Amount of issue: 2,000,000,000 rubles

Nominal value of a bond: 1,000 rubles

Maturity: 3 years

Coupon period: 90 days

Placing procedure: public offering (bookbuilding)

Placing price: 100% of the nominal value

Redemption plan: amortization redemption (in installments) is possible, its schedule will be determined by the issuer before placing begins.

Circulation: MICEX (Moscow Interbank Currency Exchange) Stock Exchange

Rating: expected to be assigned by Standard & Poor’s

REFERENCE:

The issuer of the bonded loan, CJSC SSMO LenSpetsSMU, is currently the highest rated construction company in Russia and Eastern Europe.

According to statements made under IFRS for the 1st half 2009 the net debt of LenSpetsSMU Group is 4.9 bn rubles (14% of the asset value), the ratio of the net debt to EBITDA is 0.7.

The issuer of two of the previous three bonded loans was CJSC Central Department of LenSpetsSMU Real Estate (CJSC CDR). The 1st bonded loan for the amount of 1 bn rubles placed in April 2005 was redeemed in advance on the initiative of the issuer in February 2008. The 2nd bonded loan of 02 series for 1.5 bn rubles placed in July 2006 was redeemed on 20 January 2010.

The issuer of the third bonded loan for 2 bn rubles, placed on 23 January 2009, was CJSC SSMO LenSpetsSMU. This placement was the only one for companies in the construction business in 2009. Under the Resolution of the Board of Directors of the Bank of Russia (minutes of the Bank of Russia Board Meeting No.4 dated 12.03.2010) CJSC SSMO LenSpetsSMU’s 01 series bonds (issue registration No. 4-01-17644-J) were included in the Bank of Russia Lombard List. The resolution came into effect from its issuance in the Bank of Russia Bulletin (No.18 (1187) dated 31.03.2010).

CONTACT DETAILS:

Natalia Menzel, Head of Public Relations

tel. (812) 348-21-25, e-mail: menzel_n@lenspecsmu.ru

Viktor Vasenev, Deputy CFO

tel. (812) 348-09-95, e-mail: vasenev_v@lenspecsmu.ru