National Company KazMunayGaz says Standard & Poor's affirms its corporate governance rating at GAMMA-4+ and withdraws it

/KASE, August 25, 11/ - National Company KazMunayGaz (Astana), whose bonds are officially listed at Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release of August 25, 2011: quote Standard & Poor's Corporate Governance Rating Service announced affirmation and consecutive withdrawal of the GAMMA rating (governance, accountability, management, metrics, and analysis) of JSC "National Company KazMunayGaz" (NC KMG) GAMMA-4+, on a scale with marks grading from 1 (low) to 10 (high). Rating GAMMA of NC KMG is a result of evaluation on four components of analysis, with marks grading from 1 to 10: - Shareholders' influence - 4+ - Shareholders' rights - 5 - Transparency, audit and risk management - 5+ (upgraded from 5) - Effectiveness of the Board of Directors, strategic process, motivation system - 4+ It should be noted that the mark on component "Transparency, audit and risk management" was raised from "5" to "5+" on the eve of withdrawal, in the first place, due increased transparency and improved internal audit. Corporate governance rating GAMMA of NC KMG was withdrawn upon Standard & Poor's initiative due to Standard & Poor's decision on stopping rendering services on evaluation of corporate governance using the GAMMA methodology. At the same time, Standard & Poor's continues evaluation of corporate governance as part of credit analysis. PR Department JSC "National Company KazMunayGaz" Republic of Kazakhstan, 010000, 19, Kabanbai batyr ave., Astana tel. +7 (7172) 976340, fax: +7 (7172) 976329 www.kmg.kz unquote [2011-08-25]