OREANDA-NEWS. March 24, 2010. The System Operator of National Power Grid, Kazakhstan Electricity Grid Operating Company JSC, has been assigned GAMMA-5 rating (“Governance Accountability, Management, Metrics and Analysis”). Standard & Poor’s Corporate

Governance Rating Service made the respective decision.

GAMMA rating provides the more integral assessment of corporate governance structure and practice, owing to the improved methodology including two new elements of corporate governance analysis: enterprise risk management system and strategic planning process.

GAMMA rating assignment is a result of positive changes aimed at corporate governance improvement.

The related rating report of Standard & Poor’s noted both merits and demerits of the corporate governance system.

Factors estimated as positive include power extension of the Board of Directors and development of long-term strategy of KEGOC JSC.

Standard & Poor’s analysts estimated some shortcomings, such as long decision-making process at the shareholder level and reduction of meetings in presentia of audit committee, as limiting the rating level.