1. KAZAKHSTAN STOCK EXCHANGE (KASE) December 1, 2008

2. COEVAL OF TENGE … KASE was established on November 17, 1993 under the name of Kazakh Inter-bank Currency Exchange – two days after Tenge (the new national currency of Kazakhstan) had been introduced on November 15, 1993. Currently, November 15 is observed as the official "Day of National Currency". "New" tenge (since 2006) " Old" tenge (1993–2006)

3. NOW COMMERCIAL KASE is a commercial joint-stock company with 71 shareholders (as of December 1, 2008). Regional Financial Center of Almaty JSC is the largest shareholder. Shareholders include banks, brokerage firms, asset management companies, pension funds and other professional financial institutions. Voting method: one share – one vote.

4. THE SIZE MATTERS As of November 1, 2008 own capital $10.6 m paid up charter capital $1.4 m authorized shares5,000,000 outstanding shares 450,000 share balance value2,732 tenge ($22.9 )

5. SO DOES THE PROFIT assets net profit return on assets return on equity 2007$11.9 m$1.8 m17.8 %20.2 % 2006$8.3 m$2.2 m32.5 %34.3 % 2005$5.2 m$1.3 m29.0 %30.4 %

6. The total of members – 99 of which: WE ARE BIG IN NUMBERS Category "A" (with the right to trade in all financial instruments circulating on the special trading floor of the Regional Financial Center of Almaty) – 53; Category "B" (with the right to trade in foreign currency) – 30; Category "C" (with the right to trade in futures) – 6; Category "K" (with the right to trade in government securities) – 85; Category "P" (with the right to trade in corporate serial securities listing on KASE) – 85; Category "H" (with the right to trade in corporate serial securities admitted to circulation (trading) in sector “Unlisted securities" of the KASE Trading system, and state-owned shareholding of organizations being privatized) – 50.

7. WE MAKE THE HISTORY (1) 1993 – first trades in foreign currency (US dollars) 1995 – first trades in T-bills 1996 – first trades in derivatives (KZT/USD exchange rate futures) 1997 – first trades in listed shares 1997 – first trades in state-owned shareholding 1997 – first trades in unlisted corporate securities 1998 – launch of KASE "nego" deals system (substitution of over-the- counter securities market ) 1998 – first trades in euro bonds of Kazakhstan

8. WE MAKE THE HISTORY (2) 1999 – first trades in listed bonds 1999 – first trades in municipal bonds (such bonds were prohibited for issue in 2005) 1999 – launch of "nego" repo market 2001 – launch of "automatic" repo market (currently most massive and active sector of KASE market) 2006 – first trades in foreign corporate bonds (JP Morgan and Merrill Lynch) 2006 – IPO of KazMunaiGas Exploration Production shares using KASE settlement system

9. WE MAKE THE HISTORY (3) 2006 – KAZAKHMYS PLC (UK) secondary share offering by subscription through KASE 2007 – special trading floor of the Regional Financial Center of Almaty city established on the base of KASE (to attract foreign issuers and investors) 2007 – launch of new share market index – KASE Index, continuing numerical series of KASE_Shares Index 2007 – KASE commercialization 2008 – implementation of new listing rules, reconstruction of unity through integration of MTF KASE and STF RFCA 2008 – first trades in affined ingot gold futures

10. KASE – UNIVERSAL MARKET (1)

11. KASE serves a wide range of markets: "nego" and "automatic" repo with government and corporate securities foreign currency (US dollar, euro, Russian ruble) government securities issued by the National Bank, Ministry of Finance (including Kazakhstan international bonds) and local district authorities of Republic of Kazakhstan IFO bonds and foreign government securities promissory notes equities corporate bonds KASE – UNIVERSAL MARKET (2)

12. "regular" domestic bonds (nominated in tenge or foreign currency, discount or coupon, with fixed or floating interest) international bonds of Kazakhstan issuers agency bonds (with tax regime same as that for government securities) infrastructural bonds (collateralized by government guarantee) bonds of foreign issuers (prior registered outside Kazakhstan) A GREAT VARIETY OF BONDS

13. TURNOVER DYNAMICS (USD bn)

14. TURNOVER and GDP

15. MARKET CAPITALIZATION

16. LISTED COMPANIES

17. SECURITIES OF OFFICIAL LIST

18. OFFICIAL LIST INDUSTRIAL STRUCTURE

19. SHARE AND BOND LIQUIDITY PARAMETERS

21. MAIN CHALLENGES OF THE MARKET lack of free-float equities (the heritage of case-by-case privatization) conservative policy of the main domestic investors ("buy bonds and hold till maturity")

22. KASE INDEX

23. KASE uses its own trading platform: "Server – Client" electronic trading system remote access electronic signature and electronic document circulation traffic encryption on-line data preservation OUR TECHNOLOGIES

24. KASE CONTACT DETAILS Internet:www.kase.kzwww.kase.kz E-mail:kase@kase.kzkase@kase.kz Phone:(+7 727) 237 53 00, 237 53 11, 272 98 98 Fax:(+7 727) 296 64 02, 272 09 25 Address:291/3a, Dostyk ave, 050020, Almaty, Kazakhstan