Kazakhstan Kagazy plc (“Group/Company”) announces that it has signed a preliminary term sheet with the Development Bank of Kazakhstan (“DBK”) which sets out the framework for completion of the restructuring of the Group’s loans to DBK. The term sheet envisages that, subject to reaching final agreement on terms and documentation, the restructured loan agreements will be signed in the fourth quarter of 2011.

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

Kazakhstan Kagazy JSC
Taisiya Kogutyuk, General Director                       +7 727 244 87 87

SP Angel Corporate Finance LLP
David Facey
John Mackay                                                                     +44 20 3463 2260