OREANDA-NEWS. January 3, 2012. JSC KazMunaiGas Exploration Production ("the Company", "KMG EP") is pleased to announce that a closing specialized trade for the repurchase of the Company’s preferred shares was held on KASE from 21 November 2011 till 20 December 2011.

At the end of this specialized trade the Company accepted applications for the sale of 160 473 preferred shares at the price of 13 056.57 Tenge per share. The aggregate purchase amount was 2 095 226 957.61 Tenge. This specialized trade will be settled on 23 December 2011. The Company has repurchased 2 073 276 preferred shares for an aggregate price of 37_135_715_544.31 Tenge under its buyback programme.

As previously informed, the Company approved its preferred shares buy back program to be implemented through consequent separate thirty-day specialized trades on KASE in compliance with the exchange rules. This specialized trade was the closing one in frames of the current programme. The majority of preferred shares are currently distributed among less than 20,000 individual shareholders, including present and former employees of KMG EP and their families.