New members of KMG EP's Board elected

PRESS RELEASE

Two new members of KMG EP's Board elected

Аstana, 23 October 2013. JSC KazMunaiGas Exploration Production ("KMG EP" or the "Company") held an Extraordinary General Meeting of shareholders on October 22, 2013, where Yerzhan Znangaulov was elected as a new member of Board of Directors and Alastair Ferguson was elected an Independent Non-Executive Director.

The new Board of Directors:

Daniyar Berlibayev - Chairman of the Board of Directors of KMG EP, First deputy chairman of the Managing Board for corporate development;

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;

Yerzhan Zhangaulov - Head of legal service 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.

Alastair Ferguson - Independent Non-Executive Director.

Notes

Yerzhan Zhangaulov. Mr. Zhangaulov worked as managing director of NC «KazMunayGas» JSC. Was the chief executive on legal issues of NC «KazMunaiGaz» JSC. Earlier he headed legal service and a personnel department in Presidential Administration of Kazakhstan, was the adviser of the vice-president of NC «KazMunayGas» JSC. Before that he held the post of head of Legal service department under the President's administration; worked as a consultant in the Legislation Department, Defense Department and Legal order of in the Front Office of Prime-Minister of the Republic of Kazakhstan.

Alastair Ferguson. Currently Mr. Alastair Ferguson is developing his own energy advisory business to advise clients on Russian and Ukrainian Energy Business. Specific focus on strategy development and developing new business. Clients include: Statoil, Xenon Capital Partners and JKX Oil and Gas. Earlier he was a Principal and CEO Russia Energy Advisory, Moscow. He also was NED JKX Oil and Gas and Senior Advisor to Xenon Capital Partners and worked as Executive Vice President, Gas and Power, Moscow.

KMG EP is among the top three Kazakh oil and gas producers. The 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 Company's total consolidated volume of proved and probable reserves including shares in the associates, as at the end of 2012 was 204 mt (1.5bn bbl), out of which 148 mt (1.1bn bbl) relates to Ozenmunaigas and Embamunaigas. 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 May 2013.

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 7908)

Yelena Pak

e-mail: [email protected]

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

Elena Dobson

Email: [email protected]

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