Kazakhtelecom (Kazakhstan) Board of Directors decision on possible buy back and further sale of bough back company shares

/KASE, January 25, 13/ - Kazakhtelecom (Astana), securities of which are officially listed on Kazakhstan Stock Exchange (KASE), provided to KASE the following press release: quotation The JSC Kazakhtelecom's shareholders and management do believe that the current market price of the Company's shares doesn't reflect the real (fair) value of the shares given the significant potential for growth, including the one relating to implementation of the perspective LTE project. The Company jointly with Аltel JSC brought to the market the unique innovative product - provision of mobile access to Internet based on 4G technology. Subsequently, the Company intends to provide mobile voice services in GSM standard. In this connection, the Board of Directors of JSC Kazakhtelecom took the decision on the eventual buyback and subsequent disposal (sale) of the Company's repurchased shares through the stock repurchase open market method. The decision also provides for the period of the eventual buyback and subsequent disposal (sale) of the shares which is set to be 3 (three) years. With a view to implementing the decision of the Board of directors, the Company intends to develop, following the legislature requirements, the Programs for buyback and subsequent sale of the stock that will be additionally approved by separate decisions of the Board of Directors. Should the Board of directors adopt the aforementioned program for buyback or disposal (sale) of the Company's stock, the appropriate information will be timely disclosed in mass media and on the Kazakhstan Stock Exchange's website. ends [2013-01-25]