Shareholder Transactions

Steppe Cement Limited
26 April 2006


Steppe Cement Limited

Shareholder Transactions


Steppe Cement Limited has been advised by significant shareholder, David
Crichton-Watt that his family interests in Steppe Cement Limited shares has been
reduced to 29,789,300 shares (26.1%) through on market sales.


The Company also confirms that as a consequence of the resolution of the fee
dispute with Michael Wilson & Partners 5,030,000 Steppe Cement Limited shares
held by Kazakhstan Asset management Ltd have been transferred to Michael Wilson
and Partners. As a consequence Michael Wilson and partners hold 9,930,000 shares
in Steppe Cement Limited (8.7%).


The intended share transfer from Kazakhstan Asset Management Ltd to Michael
Wilson and Partners was noted in the Company's September 2005 AIM Admission
Document.




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