/KASE, April 19, 12/ - KazMunaiGas Exploration Production (Astana), shares of which are officially listed on Kazakhstan Stock Exchange (KASE), provided to KASE the following press-release of April 19, 2012:

quotation

JSC KazMunaiGas Exploration Production (KMG EP or лthe Company╗) announces the closing of the transaction to sell a 51% stake in the LLP Kazakhstan Petrochemical Industries Inc. (KPI) that operates the construction of the first integrated petrochemical complex in Atyrau region to the LLP United Chemical Company, which has managed the KMG EP's stake in the project since 2009. The deal was approved by the Board of Directors of KMG EP on 2 March 2012.

The value of the transaction is 4.86bn tenge (USD 33.5m (based on the exchange rate on the day of payment). As investments were previously fully impaired , KMG EP will receive net gain of 4.86 bn tenge as a result of this transaction. No tax consequences as initial investment was equal to the amount of sale.

The sale of the stake in KPI is a part of the Company's Strategy 2020, which includes divestment of non-core assets, including those related to petrochemicals.

NOTES TO EDITORS

KMG EP is among the top three Kazakh oil and gas producers. The overall production in 2011 was 12.3mt (an average of 250 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 2.1 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 "BBB-" corporate credit rating in December 2011 and "GAMMA-6" rating in September 2011.

LLP "United Chemical Company" is a member of group of companies "National Wealth Fund лSamruk-Kazyna" JSC. It was established in response to the request of the President of the Republic of Kazakhstan. The main task of the Partnership is to contribute to the development of chemical industry in Kazakhstan.

Contacts: KMG EP, Public relations (+7 7172 97 7908) Elena Pak e-mail: pr@kmgep.kz

KMG EP Investor Relations (+7 7172 97 5433) Assel Kalieva e-mail: ir@kmgep.kz

Pelham Bell Pottinger (+44 207 861 3147) Elena Dobson e-mail: edobson@pelhambellpottinger.co.uk

ends

[2012-04-19]