Almaty, Kazakhstan – 5 November, 2008 – Kazakhstan Kagazy JSC announced that it has increased its charter capital, following the conversion of loans from parent company into equity. As a result, the charter capital of Kazakhstan Kagazy JSC was increased from KZT 33.9 billion (US$ 283.5 million) to KZT 41.4 billion (US$ 346.3 million).

For further information, please visit www.kazakhstankagazy.comor contact:

JSC Kazakhstan Kagazy

Head of PR desk

Kim Nelly

05060, Republic of Kazakhstan

Almaty, 15 A Almagul district

Tel.: +7 727 244 87 96 direct

+7 727 244 87 96

Fax +7 727 244 87 82

Mobile: +7 701 536 49 10

e-mail This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

www.kazakhstankagazy.com