COMMENCEMENT OF BOND RESTRUCTURING IN KAZAKHSTAN KAGAZY JSC
Almaty, Kazakhstan - Further to the announcement made on the 13th November 2009, Kazakhstan Kagazy plc announces that Kazakhstan Kagazy JSC ( “JSC” and, together with the Company and its other subsidiaries, the “Group”), the Kazakh holding company of the Group’s operations in Kazakhstan, has today informed the Kazakhstan Stock Exchange Incorporated (“KASE”) that it proposes to restructure all of its bonds currently issued and outstanding with a face value of KZT 15.6 billion (USD 104.0 million equivalent).