Company EURASIAN NATURAL RESOURCES CORPORATION PLC (ENRC, United Kingdom) acquired 25% of Shubarkol Komir (Kazakhstan)

/KASE, February 16, 09/ - Company EURASIAN NATURAL RESOURCES CORPORATION PLC (London), common shares of which are present in Kazakhstan Stock Exchange (KASE) official list, provided to KASE the press release on the following: Quotation start London - Eurasian Natural Resources Corporation PLC ('ENRC' or, together with its subsidiaries, the 'Group'), the holding company of a leading diversified natural resources group with integrated mining, processing, energy and logistical operations based in Kazakhstan, today announces the acquisition of a 25% interest in Shubarkol Komir JSC ('Shubarkol'), a major thermal coal producer in Kazakhstan, for a cash consideration of US$200 million. Shubarkol is one of Kazakhstan's largest thermal coal producers, producing some 6.1 million tonnes of coal in 2007 and accounting for over 6% of Kazakhstan's total coal production in 2007. Shubarkol is also a local producer of semi-coke, selling some 161 thousand tonnes in 2007. As at 1 July 2008 and based on JORC guidelines, SRK reported that Shubarkol had 1.419 billion tonnes of measured and indicated coal resources within its coal lease of which there were 0.365 billion tonnes of probable coal reserves. Shubarkol is majority owned by Eurasian Finance-Industrial Company JSC ('EFIC'), a private company beneficially wholly owned by the three Founder Shareholders of ENRC who together hold 43.77% of ENRC's issued share capital. The acquisition constitutes a 'smaller related party transaction' for the purposes of the Listing Rules of the United Kingdom Listing Authority ('UKLA'). In connection with the acquisition, ENRC has entered into an off-take agreement with Shubarkol, secured a seat on Shubarkol's board and entered into a shareholders agreement with EFIC. In addition ENRC has a right of first refusal, combined with a call option, over all or part of the remaining shares in Shubarkol held by EFIC. The call option is exercisable (at ENRC's discretion) at any time until 31 January 2011 and is expected to be subject to the approval of ENRC's shareholders and any required regulatory approvals having been obtained. The price payable on any exercise of the call option is the aggregate value of the shares to be transferred, assuming Shubarkol has a total value of US$800 million on a fully diluted basis. ENRC's management believes that the transaction, agreed on an arm's length basis, creates value for all of ENRC's shareholders. The 25% interest in Shubarkol was acquired through a public auction process on the Kazakhstan Stock Exchange ('KASE'). ENRC expects that settlement of the shares through KASE will be completed by the end of the first quarter of 2009. Commenting on the acquisition Dr. Johannes Sittard, Chief Executive Officer of ENRC, said, "The acquisition of Shubarkol provides for the further strategic development of the Group in the region. In addition, it strengthens the integrated business model of ENRC through securing a reliable and cost effective supply of relatively high quality thermal coal and semi-coke, thereby further enhancing the Group's position as a low cost producer. Credit Suisse Securities (Europe) Limited acted as sole financial advisor to ENRC for this acquisition. For detailed information, please contact: ENRC: Investor Relations Mounissa Chodieva+44 (0) 20 7389 1879 James S. Johnson+44 (0) 20 7389 1862 Marianna Adams+44 (0) 20 7389 1886 ENRC: Public relations Julia Kalcheva+44 (0) 20 7389 1861 M: Communications High Morrison+44 (0) 20 7153 1534 Edward Orlebar+44 (0) 20 7153 1523 Quotation end [2009-02-16]