Kazakhstan Kagazy AO : PLC (the “Company”) announces that it will be seeking approval in relation to a potential buy-back transaction

Discussions with Phoenician Capital LLC, Mr Georges Khabbaz and Mr Andre Aour (the "Vendors") started in March 2013 regarding the potential sale of their interests in the Company (which collectively amount to 33.08% of the Company's voting rights) by way of a buy-back. On 23 November 2013 the Company entered into conditional share purchase deeds with the Vendors and on 10 January 2014 the Company paid US$7,932,733 to the Vendors.

The transaction has not yet completed.

The Company will make another announcement about the status of the buy-back and the approvals to be sought as soon as possible.