EXPLORATION EXTRACTION KAZMUNAYGAS JSC ANNOUNCES ABOUT OFFERING OF ITS COMMON SHARES - PRESS-RELEASE

/KASE, September 15, 06/ - Exploration Extraction KazMunayGas JSC (Astana) spraed today the press-release, in which following is informed: Quotation begin Announcement about offering of the common shares of Joint stock company Exploration Extraction KazMunayGas. Joint stock company Exploration Extraction KazMunayGas (further - Company) in accordance with article 22 of Law of Republic of Kazakhstan "About market of securities" from July 2 2003 #461-II announces about offering of common shares of the Company, national identification number (NIN) KZ1C51460018 (further - Shares), by the method of making sign statement and announces the following: 1. Place of location of the Company - Republic of Kazakhstan, 010000, Astana city, Kabanbay batyr avenue, 20/1. 2. Date of state registration of the issue of common shares of the Company - August 15 2005. 3. Type of the offering securities - common shares of the Company. 4. data about price of offering of shares of the Company - indicative price range from 9 649,71 (nine thousands six hundred forty nine) tenge 71 tiyin per one Share. The final price of offering will be determined by the totals of closing the book of applications based on the pricing suggestions upon the applications of investors and confirmed by the Board of directors of the Company. 5. The amount of offered Shares of the Company - 23 086 791 (twenty- three millions eighty-six thousands seven hundred ninety one) copy. 6. Data about terms and order of realization of the right of shareholders to the primary purchase of Shares - August 29 2006 ended the period, during which shareholders could realize their right on primary purchase of shares. The announcement about realization by shareholders of their rights to the primary purchase was published on July 28 2006 in the newspapers "Kazakhstanskaya Pravda" (#182) and "Yegemen Kazakhstan" (#179-180). 7. Data about subdivision and officials of Company, through which it is possible to acquaint with prospect of shares' issue and other information about them - the pointed information can be received by the addressing to the contact person to the place of location of underwriter (see point 8). 8. The name and place of location of underwriter, through which it is possible to acquaint with prospect of shares' issue and other information about them - joint stock company VISOR Capital, which have a license on brokers' and dealers' activities on the market of securities with the right on conducting the clients' accounts as the nominal holder # 0401201181 from March 10 2006 year (further - Underwriter). The place of location (actual) of Underwriter - Republic of Kazakhstan, 050059, Almaty city, Al-Farabi avenue 5, business center Nurly Tau, 10 floor, contact person of Underwriter: Pavel Grunbierg, telephone (3272) 777 853. 9. Period of receiving the applications - from 14:00 Almaty time (ALT) September 15 2006 till 15:00 ALT September 28 2006. The applications filled by the stated form are receiving by Underwriter in the form of scanned copy of filled application, sent to the address: order@visocap.com or by fax: (3272) 777 718, with the next obligatory providing with original copy of application till 15:00 ALT September 28 2006 (ending of receiving of applications). 10. Place of receiving of applications - to the place of Underwriters' location. 11. Terms and order of receiving the form of application from the Underwriter and receiving the applications by Underwriter: Applications can be provided to the Underwriter by professional participants of market of securities of Republic of Kazakhstan, which are the members of Kazakhstan stock exchange JSC of "P" category, who make one summary application from their name and from clients' name (further - Declarants). Persons who are not members of Kazakhstan stock exchange JSC on "P" category and having the right to participate in offering of shares (further - Investors) on the market of securities of Republic of Kazakhstan must make deals on brokers' servicing under their choice with Declarant, receive the corresponding documents from Declarant and provide the applications to the Declarant. The minimal announced volume of sum of payment of Shares on the application of one Investor, who want to purchase Shares - 6,250,000 (six million two hundred fifty thousands) tenge. For receiving the stated form of application and also the project of contract of purchase and sale of Shares (further - Contract) Declarants have to address to the contact person to the place of location of Underwriter. The receiving of applications is making by the Underwriter after making the check of fullness of content of application and its conformity to the stated form, with registration in the book of applications with the pointed of the exact time and date of receiving the application. During the period of receiving of applications the Declarants have a right to withdraw or change the application received earlier. Any change in the earlier given application is making by the method of rendering of new application according to the stated form, which is automatically cancels the application given earlier. 12. The order of informing the Declarant about satisfaction of applications: Informing the Declarants about satisfaction of the application is making by Underwriter from 9:00 till 11:00 ALT on September 29 2006 by the way of orally notice of contact person, and also by the telephone number and e-mail address, pointed in the application, with the next handing of written notice about allocation of Shares (further - Notice) to the representative of Declarant, provided the letter of attorney, registered in accordance with legislation of Republic of Kazakhstan, by the place of location of Underwriter from 11:00 till 16:00 ALT on September 29 2006.. 13. The order of receiving and signing of contracts of Shares' purchase and sale: Two copies of Contract signed from the side of Underwriter and Notice are handing from 11:00 till 16:00 ALT on September 29 2006 to the representative of Declarant, provided the letter of attorney registered in accordance with legislation of Republic of Kazakhstan, by the place of location of Underwriter. One copy of Contract, signed by Underwriter and Declarant is providing by Declarant to the place of location of Underwriter. The Contract is accepting by underwriter from the representative of Declarant , provided the letter of attorney, registered with accordance of legislation of Republic of Kazakhstan on term before 15:00 ALT on October 2 2006. 14. Order and terms of payment for Shares: Payment for shares by money is making after signing of Contract by the both sides and providing the Underwriter with the signed Contract in accordance with point 14, by the way of transfer by the investors by the united payment of guarantee sum for the allocated Shares according to the Notice, amounting 100% from the sum of payment for Shares, to the correspondence account of Kazakhstan stock exchange JSC # 900161427 in the Board of registration of monetary operations BIC 190201125, TIN 600200049149 (further - Account), with the pointing of appointment of payment: payment for common shares of EE KazMunayGas JSC according to the contract of purchase and sale # [insert the number of Contract] dated September 29, 2006 until 16:00 ALT on October 3, 2006. The given requirement does not concern Investors, which are pension funds and organizations, which in their turn accomplish the control over pension assets in compliance with legislation of Republic of Kazakhstan, and which perform the purchase of Shares at the expense of funds of pension assets, which provide with accordance of confirmation of the serving bank-custodian on sufficiency of funds on the account of the pension fund as of October 3, 2006 until 16:00 ALT on October 3, 2006 to the address: Almaty city, Ateke bi street, 67, Kazakhstan stock exchange JSC, the contact person: Kuralay S. Nurkhanova, Room #107, phone: (3272) 72 11 21. Pension funds and organizations, accomplishing the control over pension assets, performing the purchase of Shares at the expense of funds of pension assets, which signed the contract, must make the payment for Shares to the account until 11:00 ALT on October 4, 2006. 15. Terms of Shares allocation: Transfer of purchased shares to clients' accounts of Investors will be made on October 4, 2006 by Central depository of securities (hereinafter "Central depository") on the basis of the pay-sheet, presented by Kazakhstan Stock Exchange JSC. Delivery of shares will be accomplished after receiving the guarantee amount and providing with one copy of the contract by Declarant to Underwriter in compliance with item 14 of the present announcement. Crediting the shares to the accounts of Investors will be accomplished only to sub-accounts of investors, opened in the account system by Central depository of securities JSC. Quotation end [2006-09-15]