Meeting of the BoD of KMG EP

PRESS-RELEASE

Meeting of the Board of Directors of KMG EP.

Astana, 12 March 2013. JSC KazMunaiGas Exploration Production ("KMG EP" or "the Company") held a meeting of the Board of Directors ("the Board") yesterday.

The Board has decided to set a new date for the Extraordinary General Meeting of Shareholders ("the EGM"). Previously, the EGM was to convene on 19 March 2013. The change of date was due to necessity to agree on nominations of members of the new Board, as powers of the current Board expire on 25 March 2013. The EGM will be held at 10.30 on 16 April 2013 at the KMG EP office building located at Kabanbay batyr, 17, Astana. The agenda has not changed and consists of the following two issues:

1) Election of members of the Board of Directors;

2) Determination of the amount and terms of remuneration of the Board of Directors.

NOTES TO EDITORS

KMG EP is among the top three Kazakh oil and gas producers. The production in 2012 was 12.2mt (247 kbopd) 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 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 "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]

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.