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Kazakhstan Kagazy (KAG)

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Tuesday 24 March, 2009

Kazakhstan Kagazy

Kazakhstan Kagazy plc Notifies of Major Shareho...

Kazakhstan Kagazy plc Notifies of Major Shareholder Transaction

Kazakhstan Kagazy

Kazakhstan Kagazy plc (the “Group” or “Kagazy”) (LSE:KAG), one of Kazakhstan’s leading industrial groups, today announced that it has received a notification, dated March 23, 2009, from Baglan Zhunus (formerly Baglan Zhunussov), one of the founding shareholders of Kagazy, indicating that a company in which he is a beneficiary acquired 5,100,000 Global Depositary Receipts (“GDR”s) of Kazakhstan Kagazy plc on March 18, 2009. Mr Zhunus total interest in the Group now amounts to 30,100,000 shares which is equivalent to 30,100,000 GDRs or 28.75% of Kagazy’s ordinary share capital.

For further information, please visit www.kazakhstankagazy.com or contact:

Kazakhstan Kagazy   Kazakhstan Kagazy   Shared Value Limited
Yuriy Bogday Alessandro Manghi Larisa Kogut-Millings
Chief Executive Officer Chairman Investor Relations
Tel: +7 727 244 8787 Tel: +7 727 244 8787 Tel. +44 20 7321 5010
y.bogday@kagazy.kz a.manghi@kagazy.kz kagazy@sharedvalue.net

Kazakhstan Kagazy plc runs Central Asia’s largest producer of paper, corrugated board and packaging products. It also operates one of the leading developers of commercial warehousing and industrial infrastructure facilities in Kazakhstan through PEAK LLP, which owns approximately 711 hectares of prime land, strategically located in newly created industrial zones in Almaty, Astana and Aktubinsk. The Group’s assets totalled approximately US$ 800.4 million as at September 30, 2008 and consolidated revenues amounted to approximately US$ 59.8 million for the first nine months of 2008. Kazakhstan Kagazy plc’s securities are listed under the symbol “KAG” on the London Stock Exchange.

This statement contains certain forward-looking statements with respect to the financial condition, results, operations and businesses of Kazakhstan Kagazy plc. These statements and forecasts involve risk and uncertainty because they relate to events and depend upon circumstances that will occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements and forecasts. Nothing in this statement should be construed as a profit forecast or as an offer to sell or the solicitation of an offer to buy any securities.