OREANDA-NEWS. JSC National Company KazMunayGas ("NC KMG") is today publishing the attached full proposal for changes to the Charter of JSC KazMunaiGas Exploration Production ("KMG EP") and to the Relationship Agreement that governs the interaction between NC KMG and KMG EP, as well as a proposal to offer an exit to those shareholders who wish one if these proposals are approved.

NC KMG has formally requested an EGM of KMG EP to enable shareholders to vote on these proposals. The proposals require the support of a majority of Minority Shareholders who vote at the EGM to proceed.

This announcement does not constitute an offer or invitation to purchase any securities.  Any offer (if made) will be made solely by certain offer documentation which will contain the terms and conditions of any such offer (if made) and details of how to accept it.

Any offer contemplated in the documentation referred to in this announcement will be made in compliance with, to the extent applicable, Regulation 14E ("Regulation 14E") under the US Securities Exchange Act of 1934, as amended (the "Exchange Act"). NC KMG is analyzing whether any such offer is exempt from certain of the requirements of Regulation 14E pursuant to Rule 14d-1(c) or 14d-1(d) under the Exchange Act (the "Cross-Border Tender Offer Exemptions").

In the event that NC KMG determines that such offer is exempt from certain of the requirements of Regulation 14E  pursuant to a Cross-Border Tender Offer Exemption, it and any covered person may rely on any exemption or relief provided for by such Cross-Border Tender Offer Exemption, including any available exemption from the requirements of Rule 14e-5 that permits brokers undertaking the offer or their affiliates to acquire, or make arrangements to acquire, Shares or GDRs outside the United States other than pursuant to such offer, on or off the Kazakhstan Stock Exchange or the London Stock Exchange or otherwise, before or during the timeframe of the offer, so long as those acquisitions or arrangements comply with applicable Kazakhstan Laws and practice and the provisions of such exemption. In such event, information about any such acquisitions or arrangements which is made public in Kazakhstan will be made available, including in the United States.