JSC KazMunaiGas Exp - Shares Buy Back Daily Results

KMG EP Share Buy Back Programme.

Announcement on the results of the trading

Astana, 24 May 2012. JSC KazMunaiGas Exploration Production ("the Company" or "KMG EP") announces that pursuant to the Share Buy Back Programme commenced on 11 October, 2011, on 23 May 2012 the Company acquired 130 000 of its global depositary receipts ("GDRs") (LSE:KMG) on the London Stock Exchange (LSE: LSE.L - news) at an average price of US$18.64 per GDR and 141 of its ordinary shares (KASE:RDGZ) on the Kazakhstan Stock Exchange at an average price of KZT16 750.00 each.

Since the start of the Share Buy Back Programme, the Company has purchased in aggregate 6 244 068 GDRs and 14 858 ordinary shares.

For further details please contact us at:

«KMG EP». Public Relations (+7 7172 97 7887)

Bakdaulet Tolegen

E-mail: pr@kmgep.kz

«KMG EP». Investor Relations (+7 7172 97 5433)

Asel Kaliyeva

E-mail: ir@kmgep.kz

Pelham Bell Pottinger (+44 207 861 3147)

Elena Dobson

е-mail: edobson@pelhambellpottinger.co.uk