On November 10, 2006 for the purpose of expanding the Company’s activity by the second Eurobond issue disinterested Board of Directors members of Astana Finance JSC approved the decisions

On November 10, 2006 for the purpose of expanding the Company’s activity by the second Eurobond issue disinterested Board of Directors members of Astana Finance JSC approved the decisions:

1. Issue an unconditional and irrevocable Guarantee (hereinafter - Guarantee) for the purpose of securing the execution of the obligations of the Issuer, arising due to issue of Eurobonds on international capital markets for the principal amount of 175 000 000.00 (one hundred and seventy-five million) US dollars (hereinafter- Notes), as well as for the compensation amount and other payments arising from the issue of the Notes. To publish information of the Notes issue in accordance with requirements set froth by the Laws of Kazakhstan and Companys Charter.
2. Approve increase of the liabilities of the Company for amounts of more than ten per cent. from the equity base of the Company, due to the issue of Guarantee.
3. Conclude agreements which interested parties in light of the fact that transactions relating to the issue of Notes are made with an affiliate of the Company, and the Issuer has brought to the BOD’s attention that it is the issuer of the Notes and that it will enter into the transactions with the Company and JSC "Leasing Company Astana-Finance".

updated 09.12.2008

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