Council of directors of Ornek XXI JSC (Kazakhstan) has taken a decision on creation of subsidiary enterprise - Kazakhcement LLP

/KASE, July 12, 06/ - Ornek XXI JSC (Almaty region, hereinafter - Company), shares and bonds of which are traded in Kazakhstan stock exchange's (KASE) official "В" listing category, has furnished KASE with a copy of minutes of sitting of its Council of directors dated July 10, 2006. In accordance with furnished document by Council of directors of Company decisions have been taken as follows: - to take part in activity of another organization and to create subsidiary enterprise of Company - Kazakhcement LLP with authorized capital at KZT103,000; share of Company in authorized capital - 100%; address of Kazakhcement LLP - 16А, Glinka Str., Semipalatinsk city, the Republic of Kazakhstan; major activity of subsidiary enterprise is cement manufacturing; - to entrust Managing director of Company, Mamed A. Mamedov with authorities to sign and to approve the charter of Kazakhcement LLP independently or via person empowered to act for him, to take part in decisions adoption on behalf of a single founder of Kazakhcement LLP as regards its activity, in election of its bodies, and also to execute other necessary measures, connected with given authorities. [2006-07-12]