EGM results

Press Release

JSC KazMunaiGas Exploration Productionheld an Extraordinary General Meeting of shareholders 

Astana, 1 April 2011. Yesterday, on 31 March, JSC KazMunaiGas Exploration Production ("the Company" or "KMG EP") held an Extraordinary General Meeting of shareholders at which the powers of Tolegen Bozzhanov, a member of the Company's Board of Directors, have been early terminated. Sisengali Utegaliyev has been appointed as a member of the Company's Board of Directors for the term of the Board of Directors as a whole.

Notes to Editors

Sisengali Utegaliyev - graduated Tyumen Industry Institute, geological exploration faculty. From 2009 he has worked as General Manager for Production Projects at National Company KazMunayGas; from December 2007 up to June 2009 - Managing Director for Oil and Gas Production at National Company KazMunayGas. He was an Authorized representative of National Company KazMunayGas in Kazakhoil Aktobe LLP, Chairman of Kazakhoil Aktobe LLP Supervisory Board, Authorized representative of National Company KazMunayGas in Kazakhturkmunai LLP, member of General Meeting and Authorized representative of National Company KazMunayGas in Mangistaumunaigas JSC, member of the Board of Directors.

Board of Directors

Askar Balzhanov - Chairman of the Board of Directors

Kenzhebek Ibrashev - Member of the Board of Directors (CEO)

Yerzhan Zhangaulov - Member of the Board of Directors

Sisengali Utegaliyev - Member of the Board of Directors

Assiya Syrgabekova - Member of the Board of Directors

Philip Dayer - Independent Non-Executive Director

Paul Manduca - Independent Non-Executive Director

Edward Walshe - Independent Non-Executive Director

Management Board of KMG EP

Kenzhebek Ibrashev - CEO and Chairman of the Management Board 

Vladimir Miroshnikov - First Deputy General Director - Head of Operational Management Groupin Aktau

Zhanneta Bekezhanova - CFO

Askar Aubakirov - Deputy CEO, Corporate Development and Asset Management 

Taras Khituov - Managing Director for Human Resources and Social Policy 

Kiikbai Yeshmanov - Director of UMG

Zhumabek Zhamauov - Director of EMG

KMG EP is among the top three Kazakh oil and gas producers. The overall production in 2010 was 13.3mt (an average of 270kbopd) of crude oil, including the Company's share in Kazgermunai, CCEL, PKI and NBK. The total volume of proved and probable reserves, as at the end of 2010 was 232mt (1.7bn bbl), including shares in the associates - about 2.2 bn barrels. The Company's shares are listed on the 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. The International rating agency Standard & Poor's (S&P) confirmed KMG EP's "BB+" corporate credit rating in July 2010 and "GAMMA-6" rating in November 2010.

For further details please contact us at:

Regarding specialized trade:

RFCA call-center - 8 800 080 01 77 (calls are free of charge within Kazakhstan).

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 Bell Pottinger (+44 207 861 3147)

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.