MANGISTAU ELECTRICITY DISTRIBUTION NETWORK COMPANY JSC PLANS THE INITIAL OFFERING OF 430 549 COMMON SHARES AMONG THE POPULATION ON UNORGANIZED MARKET

/KASE, May 28, 08/ - RESMI Finance & Investment House JSC (Almaty), the financial consultant of Mangistau Electricity Distribution Network Company JSC (Aktau), bonds of which are traded in the Kazakhstan Stock Exchange (KASE) category "A" official list, provided to KASE the press release of the following content: Quotation start Mangistau Electricity Distribution Network Company JSC (MEDNC JSC) plans the initial offering of its 430 549 common shares among the population on the unorganized market. Representatives of the company announced it today on the special press-conference in Almaty. The mentioned shares issue was registered by the Agency of the Republic of Kazakhstan on Regulation and Supervision of Financial Markets and Financial Organizations on April 30, 2008. RESMI Finance & Investment House JSC is the financial consultant. The main goal of shares offering is activation of the stock market through the population involvement, and receiving of the market valuation and raise investments into the company. Funds, raised through shares offering will be used in compliance with the approved Plan of MEDNC JSC Development for 2008 - 2010. MEDNC JSC shares will be offered on two phases: In the first phase part of shares will be proposed to the population of Mangistau Region. Shares will be offered as follows: orders will be collected during two weeks, after which will be determined parameters of orders satisfaction. Orders will be collected directly by RESMI Finance & Investment House JSC employees, and through the transfer agent Kazpochta JSC, regional representation of RESMI Finance & Investment House JSC and MEDNC JSC office. On orders collection site RESMI Finance & Investment House JSC and transfer agent employees will provide explanations. The offering terms and investment memorandum of MEDNC JSC are available on Internet sites www.ifd.resmi.kz, www.mrek.kz. Parameters of orders satisfaction will be determined by MEDNC JSC with assistance of RESMI Finance & Investment House JSC. Specific focus will be given to issues of the selling process transparency and accessibility of participation in it of all population segments of the region. Given this for raising the maximum number of investors, the number of shares per client will be limited. The guarantee fee in the amount of 50 % from the announced price will be paid by applicants to ensure orders satisfaction. In the second phase, shares, unplaced during the first phase, will be offered on the trading floor of Kazakhstan Stock Exchange. For this purpose, activities are being implemented to include MEDNC JSC shares into the Exchange category "A" official list. Shares will be placed on the Exchange in compliance with the Exchange internal rules. For information Mangistau Electricity Distribution Network Company JSC (MEDNC JSC) At present MEDNC JSC is the only company, ensuring transportation of the electricity to Mangistau Region consumers, except Aktau City. The energy is transported through own company's networks, length of MEDNC JSC electricity networks makes up 6 195.48 km. with the voltage in the corridor from 0.4 kilovolt to 220 kilovolt. The volume of transported electricity makes up makes up 2 bn. kilowatt-hour, and on the balance 57 substations. Transit tariff of the electricity KZT1.80 without VAT April 1, 2008. MEDNC JSC main activities are transition, distribution of electricity; organization of reliable, continuous functioning of equipment, devices, construction and transmissive units and other activities. Financial results by results of 2007 (th. KZT): - Assets 11 259 615 - Equity capital - 6 528 832 - Net income 46 033 - Sales revenue - 2 702 954 - Gross revenue 516 053 MEDNC JSC shareholders are: - Samruk-Energo JSC - 94.26% common shares; - 594 people (working and former MEDNC JSC workers) - 5.74% preferred shares. RESMI Finance & Investment House JSC Company RG Securities was established in 1997 to provide wide range of services on the financial market. During its work RG Securities developed into the financial and investment house with the wide range of services. On September 13, 2006, the company implemented the re-branding, and nowadays the company is called RESMI Finance & Investment House JSC, which provides the wide line of financial products and investment solutions for both the corporate clients and physical persons, including: - Investment banking. - Assets management. - Trading. Investment banking Today in Kazakhstan with development of the financial sector and the securities market, in particular, the investment banking is in demand. The investment banking means quite broad list of services, among which can be emphasized: underwriting, deals on merger and acquisition (M&A), financial counseling, etc. Merger and acquisition deals are closely connected with other investment banking - the initial offering of shares or IPO (Initial Public Offering). IPO - is the initial offering of the company's shares on the Exchange for sale to the wide range of investors. For additional information contact: Erbolat Yeleshev, Director of Investment Banking Department of FIH RESMI JSC Quotation end [2008-05-28]