KazMunaiGas Exploration Production (Kazakhstan) informed that S&P assigned GAMMA-6-level corporate management rating

/KASE, December 24, 09/ - KazMunaiGas Exploration Production (Astana), shares of which are present in Kazakhstan Stock Exchange (KASE) official list, provided to KASE the following press release of December 23, 2009: quotation starts International rating agency Standard & Poor's (S&P) has replaced its Corporate Governance Score (CGS) on JSC KazMunaiGas Exploration Production (KMG EP, the Company) with a GAMMA score at GAMMA-6 level. The GAMMA score replaces Standard & Poor's CGS that was assigned to KMG EP on 1 Oct 2007. The GAMMA score is based on an updated CGS methodology and introduces two new elements of governance analysis: the enterprise risk management system (ERM) and the strategic process. Standard & Poor's believes GAMMA score is a more comprehensive assessment of governance structures and practices. According to Standard & Poor's analysts KMG EP's governance structures have shown an incremental overall improvement in 2009, with meaningful progress in the areas of internal audit, risk management and strategic planning. The strengths of corporate governance practices at KMG EP include: effective performance of the independent directors in balancing the majority shareholder and close management oversight; legislated and transparent mutual obligations with the parent company NC "KazMunayGas"; strong level of Company's transparency; competent and independent audit; effective cooperation with the shareholders which enjoy a broad measure of rights; generally strong shareholder meeting procedures. Contacts: KMG EP, Public Relations (+7 7172 97 7600) Daulet Zhumadil e-mail: pr@kmgep.kz KMG EP, Investor Relations (+7 7172 97 5433) Asel Kalieva e-mail: ir@kmgep.kz Pelham PR (+44207 337 15 17) Elena Dobson e-mail: Elena.dobson@pelhampr.com quotation ends [2009-12-24]