/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:

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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Corporate governance rating GAMMA of NC KMG was withdrawn upon Standard & Poor's initiative due to Standard & Poor's decision on stopping rendering services on evaluation of corporate governance using the GAMMA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

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[2011-08-25]