EGM results

PRESS RELEASE

Result of an Extraordinary General Meeting of shareholders of

KazMunaiGas Exploration Production JSC

Astana, 29 March 2010 KazMunaiGas Exploration Production JSC ("KMG EP" or the "Company") announces that, at the Extraordinary General Meeting ("EGM") held on March 26 2010 new Board of Directors was elected due to expiration of the appointment terms. Extraordinary general meeting elected the following members to the Board of Directors:

Askar Balzhanov, Managing Director on Exploration and Production of NC KMG

Tolegen Bozzhanov, Managing Director on Corporate Center of NC KMG

Yerzhan Zhangaulov, General Manager on Legal Support of NC KMG

Kenzhebek Ibrashev, General Director, Chairman of the Management Board of the Company

Assiya Syrgabekova, Chief Financial Officer of NC KMG

Paul Manduca, Independent Director of the Company

Edward Walshe, Independent Director of the Company

The EGM proposed that the term for the Board of Directors appointment shall be set at three (3) years.

Notes to Editors

KMG EP is among the top three Kazakh oil and gas producers. The overall production in 2009 was 11.5mmt (an average of 232kbopd) of crude oil, including the Company's share in Kazgermunai and CCEL. The volume of proved and probable reserves (2P) of KMG EP as at the end of 2009 was 234mmt (1.7bn barrels), and including the share of reserves from Kazgermunai and CCEL, preliminarily, about 2.2 bn barrels. The Company's shares are listed on Kazakhstan Stock Exchange and the GDRs are listed on The London Stock Exchange. The Company raised over US$2bn in its IPO in September 2006. In July 2009 International rating agency Standard & Poor's (S&P) confirmed KMG EP's "BB+" corporate credit rating and assigned the Company "GAMMA-6" level.

For further details please contact us at:

«KMG EP». Public Relations (+7 7172 97 7600)

Daulet Zhumadil

E-mail: [email protected]

«KMG EP». Investor Relations (+7 7172 97 5433)

Asel Kaliyeva

E-mail: [email protected]

Pelham PR (+44207 337 15 17)

Elena Dobson

E-mail: [email protected]

Forward-looking statements

This document includes statements that are. or may be deemed to be. ''forward-looking statements''. These forward-looking statements can be identified by the use of forward-looking terminology. including. but not limited to. the terms ''believes''. ''estimates''. ''anticipates''. ''expects''. ''intends''. ''may''. ''target''. ''will''. or ''should'' or. in each case. their negative or other variations or comparable terminology. or by discussions of strategy. plans. objectives. goals. future events or intentions. These forward-looking statements include all matters that are not historical facts. They include. but are not limited to. statements regarding the Company's intentions. beliefs and statements of current expectations concerning. amongst other things. the Company's results of operations. financial condition. liquidity. prospects. growth. potential acquisitions. strategies and as to the industries in which the Company operates. By their nature. forward-looking statements involve risk and uncertainty because they relate to future events and circumstances that may or may not occur. Forward-looking statements are not guarantees of future performance and the actual results of the Company's operations. financial condition and liquidity and the development of the country and the industries in which the Company operates may differ materially from those described in. or suggested by. the forward-looking statements contained in this document. The Company does not intend. and does not assume any obligation. to update or revise any forward-looking statements or industry information set out in this document. whether as a result of new information. future events or otherwise. The Company does not make any representation. warranty or prediction that the results anticipated by such forward-looking statements will be achieved.