/KASE, June 29, 09/ - Kazakhtelecom (Astana), a company listed on Kazakhstan Stock Exchange (KASE), provided KASE with a press release dated June 29, 2009 as follows:

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Kazakhtelecom announces that currently according to its strategy and program for restructure of assets approved by the Board of Directors and aimed at strengthening of the principal business and optimization of use of its resources the company intends to sell a 51 % share in Mobile Telecom- Service LLP (Neo), and is addressing to potential investors interested in acquisition of the share.

Kazakhtelecom appointed RBS Corporate Finance Limited as its financial advisor in this matter.

In this connection Kazakhtelecom is inviting investors interested in acquisition of Mobile Telecom-Service (Neo), to confirm an interest and receive information on the competition to send requests in the written or electronic form in Russian and/or English at the following requisites:

Alexander Lukin RBS Corporate Finance Limited 135 Bishopsgate EC2M 3UR London Great Britain Telephone: + 44 20 7678 8049 Facsimile: + 44 20 7678 6537 E-mail: alexander.lukin@rbs.com Copy: nataliya.lyan@telecom.kz

The deadline to submit orders and collect data is July 17, 2009. The final date for submitting of binding offers is August 31, 2009. Participants are encouraged to send orders, data and requests within the shortest terms for purposes of availability of time to get familiarized with the information received and submit their offers.

The requests will be considered with account to the following:

1. Financial resources;

2. Investment intentions;

3. Operational profile;

4. Absence of conflict of interest between a participant and Mobile Telecom- Service.

Reference about Neo:

Mobile Telecom-Service is providing mobile services under brand "Neo" since receiving a license of GSM in 2007.

In 2007-2008 Mobile Telecom-Service expanded significantly its covering area and currently is providing services in all regions of Kazakhstan, including 251 cities and settlements. Mobile Telecom-Service is the third largest GSM operator following GSM Kazakhstan - OAO Kazakhtelecom (K'Cell and Activ) and KaR-Tel (Beeline) and as at May 2009 was servicing about 920,000 subscribers.

The second participant of Mobile Telecom-Service is Asianet Kazakhstan holding a 49 % share in MTS.

For further information on the competition, please, contact representatives of RBS and Kazakhtelecom.

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[2009-06-29]