OREANDA-NEWS. On May 28, 2008 RESMI Finance & Investment House JSC (Almaty), the financial consultant of Mangistau Electricity Distribution Network Company JSC (Aktau), bonds of which are traded in the Kazakhstan Stock Exchange (KASE) category "A" official list, provided to KASE the press release of the following content, reported the press-centre of KASE:

Mangistau Electricity Distribution Network Company JSC (MEDNC JSC) plans the initial offering of its 430 549 common shares among the population on the unorganized market. Representatives of the company announced it on the special press-conference in Almaty.

The mentioned shares issue was registered by the Agency of the Republic of Kazakhstan on Regulation and Supervision of Financial Markets and Financial Organizations on April 30, 2008.

RESMI Finance & Investment House JSC is the financial consultant.

The main goal of shares offering is activation of the stock market through the population involvement, and receiving of the market valuation and raise investments into the company.

Funds, raised through shares offering will be used in compliance with the approved Plan of MEDNC JSC Development for 2008 - 2010.

MEDNC JSC shares will be offered on two phases:

In the first phase part of shares will be proposed to the population of Mangistau Region. Shares will be offered as follows: orders will be collected during two weeks, after which will be determined parameters of orders satisfaction. Orders will be collected directly by RESMI Finance & Investment House JSC employees, and through the transfer agent Kazpochta JSC, regional representation of RESMI Finance & Investment House JSC and MEDNC JSC office.

On orders collection site RESMI Finance & Investment House JSC and transfer agent employees will provide explanations. The offering terms and investment memorandum of MEDNC JSC are available on Internet sites www.ifd.resmi.kz, www.mrek.kz.

Parameters of orders satisfaction will be determined by MEDNC JSC with assistance of RESMI Finance & Investment House JSC. Specific focus will be given to issues of the selling process transparency and accessibility of participation in it of all population segments of the region.

Given this for raising the maximum number of investors, the number of shares per client will be limited.

The guarantee fee in the amount of 50% from the announced price will be paid by applicants to ensure orders satisfaction.

In the second phase, shares, unplaced during the first phase, will be offered on the trading floor of Kazakhstan Stock Exchange. For this purpose, activities are being implemented to include MEDNC JSC shares into the Exchange category "A" official list. Shares will be placed on the Exchange in compliance with the Exchange internal rules.