Directors' Board of Exploration Production KazMunayGas JSC (Kazakhstan) approved the charter and code of corporate management in new edition and creation of Committee for strategic planning

/KASE, September 18, 07/ - Exploration Production KazMunayGas JSC (Astana), shares of which are traded in Kazakhstan stock exchange's (KASE) category "A" official list had spread today the press-release in which the following is informed. quotation begin Astana, September 17, 2007, JSC KazMunaiGas Exploration Production ("KMG EP" or "the Company") held a visiting session of the Board of Directors at Zhanaozen. The Board of Directors of KMG EP has reviewed and endorsed the amended versions of the Charter, the Corporate Governance Code and the By-laws on the Board of Directors of KMG EP. The update of these documents was caused by amendments in the legislation of the Republic of Kazakhstan as well as by the requirements to introduce drafting amendments. Also, the Board of Directors has reviewed and approved the establishment of the Strategy Planning Committee and the composition thereof. The Board of Directors of KMG EP has submitted the amended versions of the Charter, the Corporate Governance Code and the By-laws on the Board of Directors for approval at the extraordinary meeting of shareholders to be held in Astana on October 30, 2007 NOTE: KMG EP was the 3rd largest Kazakh oil and gas producing company with over 9.5 mmt (192 kbopd) of crude production in 2006 and 203.2 mmt (1.5 billion bbl) of proved and probable reserves at the end of 2006. The Company's shares are listed on Kazakhstan Stock Exchange and the GDRs are listed on London Stock Exchange. The Company raised approximately US$2 billion in its IPO in September of 2006.. For further details please contact us at: KMG EP, Public Relations (+7 717 2 977 908, +7 7172 977 924) Lyazzat Kokkozova E-mail: pr@kmgep.kz KMG EP, Investor Relations (+7 7172 975433) Alexander Gladyshev E-mail: ir@kmgep.kz WMC Communications Ltd (+44 207 930 9030) Elena Dobson E-mail: Elena.dobson@wmccommunications.com Forward-looking statements This document includes statements that are, or may be deemed to be, forward-looking statements''. These forward-looking statements can be identified by the use of forward-looking terminology, including, but not limited to, the terms ''believes'', ''estimates'', ''anticipates'', ''expects'', ''intends'', may'', ''target'', ''will'', or ''should'' or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. They include, but are not limited to, statements regarding the Company's intentions, beliefs and statements of current expectations concerning, amongst other things, the Company's results of operations, financialcondition, liquidity, prospects, growth, potential acquisitions, strategies and as to the industries in which the Company operates. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances that may or may not occur. Forward-looking statements are not guarantees of future performance and the actual results of the Company's operations, financial condition and liquidity and the development of the country and the industries in which the Company operates may differ materially from those described in, or suggested by, the forward- looking statements contained in this document. The Company does not intend, and does not assume any obligation, to update or revise any forward-looking statements or industry information set out in this document, whether as a result of new information, future events or otherwise. The Company does not make any representation, warranty or prediction that the results anticipated by such forward-looking statements will be achieved. Quotation end [2007-09-18]