/KASE, February 9, 11/ - Kazakhstan Kagazy (Almaty region), whose securities are officially listed on Kazakhstan Stock Exchange (KASE) has provided KASE with the following press-release of February 9, 2011:

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Kazakhstan Kagazy plc (the "Company"/the "Group") is delighted to announce that Astana Contract's subsidiary Paragon Developments Limited ("Paragon") has entered into a five year contract with Avon Cosmetic (Kazakhstan) Limited LLP to occupy over 5,000 m2 of space at Paragon, the Group's A class warehouse facility located in Almaty.

The space taken by Avon represents around 10% of the total space available at Paragon. Following the agreement with Avon, Paragon will be 61% occupied, compared with 23% at the beginning of 2010.

Other major new customers in 2010 include "Rykom - Kaz" LLP (the sole authorized distributor of Mitsubishi Motors vehicles in Kazakhstan) and Wrigley Kazakhstan both of which use a wide range of our outsourcing services.

Please turn with your inquiries to: SP Angel Corporate Finance David Facey +7 727 244 87 87 JSC Kazakhstan Kagazy Aida Yelgeldiyeva +7 727 244 87 87 Nellya Kim Press centre +7 727 244 87 96

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[2011-02-09]