KAZKOMMERTS SECURITIES (SUBSIDIARY OF KAZKOMMERTSBANK) ANNOUNCES RESULTS OF OFFERING OF EUROBONDS OF KAZAKHSTAN TEMIR ZHOLY FINANCE B.V.

/KASE, July 9, 12/ - JSC "Kazkommerts Securities" (Subsidiary of JSC "Kazkommertsbank"), the local lead-organizer of issue of Eurobonds of Kazakhstan Temir Zholy Finance B.V., has provided to Kazakhstan Stock Exchange (KASE) the following communique: quote Herewith, JSC "Kazkommerts Securities" (Subsidiary of JSC "Kazkommertsbank") announces results of the initial offering of Eurobonds of Kazakhstan Temir Zholy Finance B.V., registered in accordance with the legislation of a foreign state. On July 2, 2012 there was offering of Eurobonds of Kazakhstan Temir Zholy Finance B.V. to a total amount of 800,000,000 US dollars (30 years; semi- annual coupon 6.95% APR; 30/360). USD3,900,000 were distributed to Kazakhstan's investors. In the total volume of orders from Kazakhstan's investors 43.6 % fell onto pension market entities and 56.4 % - onto brokerage and dealer firms and their clients. The said bonds were issued in accordance with the legislation of a foreign state and in accordance with the effective Kazakh legislation they had to be offered to Kazakh investors in the open organized market of the Republic of Kazakhstan, parallel with conducting a subscription abroad. The trades' subject was the bonds' annual yield to maturity for buyer, which was indicated in orders as a price parameter, expressed in annual percentage. During the subscription at KASE market and limited orders were accepted, submitted by the closed method from 15:20 to 19:00 o'clock Almaty time. Orders were supposed to be satisfied at the cut-off price. Upon the order book closing results, the issuer set the cut-off price (annual yield of bonds to maturity) at a level of 6.95 % APR with the coupon rate of 6.95 % APR. The bonds are offered under rules Reg S/144A, settlement date - July 10, 2012. Kazakhstan Temir Zholy Finance B.V. appointed Barclays and HSBC as joint issue organizers, and JSC "Kazkommerts Securities" as Kazakh organizer. The issue of these bonds is regulated by the English law. Important: This communication is not for distribution directly or indirectly in the United States, Australia, Canada or Japan. This document (and any contained information) is not an offer for sale of any securities in the United States, Australia, Canada or Japan or any other jurisdictions, where such offer is illegal. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933 (the "Securities Act"). The Securities have not been, and will not be, registered under the Securities Act and subject to certain exceptions, may not be offered or sold within the United States. The securities will not be publicly offered in the United States. This communication is being distributed to and is directed only at (i) persons who are outside the United Kingdom or (ii) persons who are investment professionals within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") and (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) (a) to (d) of the Order (all such persons together being referred to as "relevant persons"). Any investment activity to which this communication relates will only be available to and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this communication or any of its contents. This communication is not for dissemination or transmission to any retail investors. The issue ratings are not the recommendation for sale, purchasing of securities or holding them, and may be revised, suspended or recalled any time by an agency that assigned these ratings. The similar ratings for various issuers and various securities not necessarily have similar meaning. The significance of each rating must be analyzed regardless of any other ratings. unquote [2012-07-09]