KMG EP held an EGM & BoD meetings

PRESS RELEASE

KMG EP held an Extraordinary General Meeting of shareholdersand a meeting of the Board of Directors

Astana, April 18, 2013. JSC KazMunaiGas Exploration Production ("KMG EP" or the "Company") held an Extraordinary General Meeting of shareholders on April 16, 2013, where the new Board of Directors of the Company was elected for the term of one year.

The following members were elected to the Board of Directors:

·; Lyazzat Kiinov - Chairman of the Board of Directors of KMG EP, Chairman of the Management Board of JSC NC KazMunaiGas;

·; Timur Bimagambetov - Deputy Chairman of the Management Board for production and technical development at JSC NC KazMunaiGas;

·; Asiya Syrgabekova - Financial Director of JSC NC KazMunaiGas;

·; Abat Nurseitov - CEO, Chairman of the KMG EP Management Board;

·; Philip Dayer - Independent Non-Executive Director;

·; Edward Walshe - Independent Non-Executive Director.

The Board of Directors held a meeting on the same day. The Board of Directors set the date for the Annual General Meeting of Shareholders ("AGM"), as 21 May 2013, and approved its agenda.

The AGM agenda includes: approval of annual consolidated financial statements and the Company's 2012 Annual Report, dividend with regards to 2012 earnings per ordinary and preferred share of KMG EP, evaluation of the Board of Director's performance in 2012.

The Board of Directors has recommended a dividend with regards to 2012 earnings per ordinary and preferred share of KMG EP of 1,619 Tenge (including taxes withheld in accordance with the legislation of Kazakhstan) which is equivalent to about 110 billion tenge1 (approx. US$740 million). This will be voted upon at the AGM.

If approved by the AGM, the payment of the 2012 annual dividend will be made starting on July 1, 2013 to shareholders of record as at May 31, 2013.

1 Calculated based on number of shares outstanding as at April 5, 2013. 

NOTES TO EDITORS

KMG EP is among the top three Kazakh oil and gas producers. Overall production in 2012 was 12.2mt (an average of 247kbopd) of crude oil, including the Company's share in Kazgermunai, CCEL and PKI. The total volume of proved and probable reserves, as at the end of 2011 was 226mt (1.7bn bbl), including shares in the associates of about 2.1bn barrels. The Company's shares are listed on the Kazakhstan Stock Exchange and its GDRs are listed on The London Stock Exchange. The Company raised over US$2bn in its IPO in September 2006. International rating agency Standard & Poor's (S&P) confirmed KMG EP's "BBB-" corporate credit rating in December 2011.

For further details please contact us at:

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

Asel Kaliyeva

e-mail: [email protected]

«KMG EP». Public Relations (+7 7172 97 7915)

Zhanna Oyshybaeva

e-mail: [email protected]

Pelham Bell Pottinger (+44 (0)207 861 3147)

Elena Dobson

e-mail: [email protected]

Forward-looking statements

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