Shareholder of Mangistau Electricity Distribution Network Company (Kazakhstan) releases message on sale of majority state interest in company

/KASE, September 22, 08/ - Samruk-Energo (Astana), a sole shareholder of Mangistau Electricity Distribution Network Company (Almaty), provided Kazakhstan Stock Exchange (KASE) with the information message as follows: Quotation start Samruk-Energo intends, for purposes of solution of the tasks assigned to the Government to develop the stock market of the Republic of Kazakhstan, to sell the remainder of share holding in the amount of 75 %+1 common shares in the capital of Mangistau Electricity Distribution Network Company. Terms and methods of sale of the shareholding will be determined jointly with the financial consultant. For reference Mangistau Electricity Distribution Network Company is the only company, transporting electrical energy to consumers of Mangistau region of the Republic of Kazakhstan, besides the city of Aktau. Energy is transported trough own electrical networks of the company with 6,195.48 km overall length. MEDNC main activities are: transportation of distribution electrical energy; equipment and installations maintenance, and other activities. 2007 Financial results (th. tenge): Assets - 11,259,615 Own capital - 6,528,832 Net income - 46,033 Revenue from sale - 2,702,954 Gross income - 516,053. Mangistau Electricity Distribution Network Company finished placement of common shares "People's IPO" among the population of Mangistau region and in the KASE system. Total number of shares proposed for offering - 430,549 common shares. Shares were offered in accordance with the decision of the Board of Directors of MEDNC of May 7, 2008 in two stages: - among the population of Mangistau region - the first stage; - on the trading floor of Kazakhstan Stock Exchange - the second stage. According to the results of trades 92.7% shares came at stake of pension funds 7.3% - brokerage and dealing companies' clients. The attraction volume at the first stage of offering made up KZT444,875,432.00. According to the results of the second stage, the volume of offering on KASE made up KZT330,993,275.00, all shares of the additional issue have been offered. The total volume of attraction made up KZT775,868,707.00. SAMRUL-Energo SAMRUK-Energo was founded in May 2007 for the purposes of elaboration and implementation of a long-term state policy on modernization of the-then-existing and launch of new generating capacities. Establishment of the unified body of operational management of state electro-energy assets was to provide long-term and stable growth of shareholder value of the company, necessary for advanced growth of electrical power production for purposes of development of the industrial sector of the Kazakhstan economy. Quotation end [2008-09-22]