In 2009 the Company defaulted on its debt obligations. Immediately after that the Company started to restructure its indebtedness. Please refer to the following table to obtain information about current status of debt restructuring. Please also read Press Releases which highlight step by step achievements of the Company on debt restructuring.

 * Includes capitalized interest 

Press Releases:

Kazakhstan Kagazy reports on the debt restructuring status - 28 Jul 2011

DBK debt restructuring update - 30 Jun 2011

EBRD debt restructuring update  - 23 Jun 2011

Kazakhstan Kagazy completes bond restructuring - 14 Apr 2011 

Kazakhstan Kagazy the representative of creditors committee has been elected to the Board of Directors - 31 Mar 2011

Kazakhstan Kagazy notes and reports about restructuring of financial obligations - 5 Mar 2011

Status of negotiations between Kazakhstan Kagazy and Kazakhstan Development Bank - 28 Feb 2011

Kazakhstan Kagazy informs about completion of the debt restructuring to the bondholders NIN KZ2C0Y05D117 - 18 Jan 2011

Refinancing of USD35.9 34.8 m (KZT5.1bn) of bank debt - 17 Nov 2010

Commencement of bond restructuring in Kazakhstan Kagazy JSC - 18 Jan 2010

Kazakhstan Kagazy enters into restructuring discussions with its lenders - 13 Nov 2009