NATIONAL COMPANY KAZMUNAYGAZ MANDATED LEAD MANAGERS FOR A TRANSACTION UNDER ITS USD7.5 BN MID-TERM NOTES PROGRAMME

/KASE, November 1, 10/ - Subsidiary organization of Halyk Bank of Kazakhstan Halyk Finance (Almaty) and VISOR Capital (Almaty), which are members of the stock market of Kazakhstan Stock Exchange (KASE), provided today to KASE the following press release: quote "JSC National Company KazMunayGas ("KMG"), rated Baa3/BB+/BBB-, has mandated Credit Suisse, The Royal Bank of Scotland and UBS Investment Bank as Joint Lead Managers and Bookrunners for a Reg S / 144A US$ transaction under its US$7.5 billion GMTN Programme. JSC Halyk Finance and JSC Visor Capital will act as Kazakhstan Lead Managers on this transaction. The transaction is expected to be launched in the near future, subject to market conditions." FSA/ICMA Stabilisation. By accepting delivery of this press release you will be deemed to have represented, agreed and acknowledged either that you are (i) a qualified institutional buyer, as defined in Rule 144A under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and are also a qualified purchaser, as defined in section 2(a)(51) of the U.S. Investment Company Act of 1940, as amended, or (ii) a non-U.S. Person (as defined in Regulation S under the Securities Act). ANY FORWARDING, DISTRIBUTION OR REPRODUCTION OF THIS PRESS RELEASE IN WHOLE OR IN PART IS PROHIBITED. FAILURE TO COMPLY WITH THIS DIRECTIVE OR ANY OF THE OTHER RESTRICTIONS SET FORTH HEREIN MAY RESULT IN A VIOLATION OF THE SECURITIES ACT OR THE APPLICABLE LAWS OF OTHER JURISDICTIONS. This press release does not constitute or form a part of an offer of Securities for sale in the United States (including its territories and possessions, any State of the United States and the District of Columbia). Securities may not be offered or sold into the United States absent registration or an exemption from registration as provided in the Securities Act, and the rules and regulations thereunder. There is no intention to register any portion of any offering of Securities in the United States of America or to conduct a public offering of Securities in the United States. The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful absent registration, an exemption from registration or qualification under the securities laws of any such jurisdiction. The distribution of this press release may be restricted by law in certain jurisdictions and persons into whose possession this press release or other information referred to herein comes should inform themselves about and observe any such restriction. This document is not a prospectus and, to the extent that it may constitute an advertisement, does not constitute an offer to sell or the solicitation of an offer to purchase Securities. Investors should not subscribe for any Securities referred to herein except on the basis of the information contained in the base prospectus relating to the Programme, as supplemented by the applicable final terms and any pricing sheet relating to the offering of such Securities. This communication is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). Any offering of Securities will only be made available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such Securities will be engaged in only with, relevant persons. The Joint Lead Managers are acting for KMG and no one else in connection with any offering of Securities and will not be responsible to anyone other than KMG for providing the protections afforded to clients of the Joint Lead Managers nor for providing advice in connection with such offering NOT FOR DISTRIBUTION IN THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA ANY DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR BELOW ARE NOT APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED. SUCH DISCLAIMERS OR OTHER NOTICES WERE AUTOMATICALLY GENERATED AS A RESULT OF THIS COMMUNICATION BEING SENT VIA BLOOMBERG OR ANOTHER ELECTRONIC TRANSMISSION. unquote [2010-11-01]