EXPLORING MINING KAZMUNAYGAS JSC INFORMED about THE SUCCESSFUL FINISHING OF IPO AT $14.64 PER GDR AND KZT11,163.39 PER A COMMON SHARE

/KASE, September 29, 06/ - Exploring Mining KazMunayGas JSC (Astana), of which shares have been included in official list of securities of Kazakhstan stock exchange (KASE), has presented KASE the informative message, saying: Quotation start **IT IS NOT LIABLE FOR SENDING DIRECTLY OR IN AROUNDABOUT WAY TO AUSTRALIA, USA, CANADA AND JAPAN, AS WELL AS, IT IS IMPOSSIBLE TO SPREAD IT IN THE TERRITORY OF THESE COUNTRIES** The present document is not a specification, but it is an advertising announcement. It is must for investors to subscribe to any circulating securities, which are mentioned in this message, only on the basis of information, contained in the specification. FOR THE DIRECT DISTRIBUTION September 29, 2006. KAZMUNAYGAS EXPLORING MINING JSC ANNOUNCES THAT THE PRICE OF SECURITIES MAKES: $14.64 PER GDR, KZT11,163.39 for a common share. Exploring Mining KazMunayGas JSC (hereinafter "EM KMG" or "Company"), one of the leading producers of oil in Republic of Kazakhstan, informs of the successful finishing of offering of GDR and of common shares among investors ("Global offering") at the price of the global depository receipt in the size of KZT11,163.39 (both titled "The price of global offering"). Global offering consists of 23,086,791, recently issued common shares, offered by the Company together with 3,463,019 existing common shares, which are offered by underwriters on behalf of NC KazMunayGas JSC (NC KMG) in the aim of stabilization of the market after offering. Securities are offered as (i) global depository receipts ("GDR") for listing on London stock exchange, and (ii) common shares ("Shares"), which have already been in listing of Kazakhstan stock exchange. One common share corresponds to six GDR. Starting from Price of Global offering, the volume of Global offering before shares, being offered in the aim of stabilization, makes approximately $2.0 bn. (approximately, KZT258bn.), which will result in the market capitalization (not considering preferred shares) in the size of, approximately, $6.2 bn. or KZT784 bn. After conducting several successful meetings with potential investors in Great Britain, continental Europe, USA and Kazakhstan, GDR and shares were offered among broad circle of international institutional and local investors. It is expected that conditional trades in GDR starts on London stock exchange under the symbol "KMG" on October 4, 2006 г. at 11.00, according to London time (16.00 p.m. of Astana time), at the same time with the start of the conditional trades on Kazakhstan stock exchange. Expectedly, inclusion into the main list and start of the conditional trades in GDR on London stock exchange will take place at 8.00 of London time on October 5, 2006 г. The company assigned banks ABN AMRO Rothschild and Credit Suisse as Joint global coordinators and Joint book runners. Visor Capital is the Lead manager and the Settlement bank for deals on the territory of Kazakhstan. Banks ABN AMRO Rothschild and Credit Suisse do not have a right to perform any offerings or sales in Kazakhstan. Sales of 3,463,019 existing shares of NC KMG (which is equivalent to 15% of amount of the Global offering) will be suggested by underwriters with the purpose of execution and stabilization of the market of GDR. It is assumed that NC KMG will present underwriters the right to perform put-option within 30 days from the date of start of operations for presenting the underwriters the right of sales to NC KMG of GDR or Shares, acquired on the market during stabilization period. Commenting today's announcement, Askar Balzhanov, the General director of EM KMG, in particular, said, "EM KMG is satisfied with the results of the Offering and interest, demonstrated by international and Kazakhstan investors. This offering is an important border for the Company, and we see our future as being the company, quoted both on Kazakhstan and international exchanges, and will do our best to provide further growth of the Company and increase of its value for all of our investors". For detailed information please apply to: EM KMG, Public relations (+7 317 2 977 908, +7 3172 977 924) Lyazzat Kokkozova E-mail: pr@kmgep.kz EM KMG, Service on communication with investors (+7 3172 975433) Alexander Gladyshev E-mail: ir@kmgep.kz Citigate Dewe Rogerson (+44 20 7638 9571) Martin Jackson David Westover Quotation end [2006-09-29]