Re MOU (5681C)

TIDM94DU TIDM94DV

RNS Number : 5681C

JSC National Atomic Co. Kazatomprom

02 May 2012

2(nd) of May, 2012 Astana

PRESS RELEASE

JSC "NAC" Kazatomprom" has signed Memorandums of cooperation with Japanese partners

Within the frames of official visit of Mr. Yukio Edano, Minister of Economy, Trade and Industry of Japan (METI) to the Republic of Kazakhstan a signing ceremony of the Memorandums of Understanding and Mutually Beneficial Cooperation between JSC "National atomic company "Kazatomprom" (hereinafter - Kazatomprom) and Japanese partners has taken place.

The following documents were signed:

1. Memorandum of Understanding for Comprehensive Strategic Partnership between Kazatomprom and Japan Bank for International Cooperation (JBIC).

On the part of Kazakh side the document was signed by the Deputy Chairman of Kazatomprom's Management Board Mr. Aidar Arifkhanov, and by the Director General of Nuclear and Renewable Energy Finance Department, Energy, Natural Resources and Environment Finance Group Mr. Yutaka Funada on the part of JBIC.

The Memorandum confirms the intention of Kazatomprom and JBIC to exchange views and information in order to continue and strengthen cooperation to facilitate activities of mutual benefit and to implement potential business opportunities in the areas of interest for Kazakh and Japanese sides. The partnership between Kazatomprom and JBIC will be realized in the areas of consideration of a streamlined procedure to respond flexibly to relevant finance needs of Kazatomprom, rare metal and rare earth development, implementation of environmental projects in Kazakhstan as well as other Kazatomprom's projects with possible participation of Japanese companies.

2. Memorandum of Understanding and Mutually Beneficial Cooperation on the Project on Rare Earth Development in the Republic of Kazakhstan between Kazatomprom, Sumitomo Corporation and Japan Oil, Gas and Metals National Corporation (JOGMEC).

On the part of Kazatomprom the Memorandum was signed by the Deputy Chairman of Kazatomprom's Board Mr. Sergey Yashin, and by the Senior Managing Executive Officer of Sumitomo Corp. Mr. Toru Furihata, and by the President of JOGMEC Mr. Hirobumi Kawano from Japanese side.

The Memorandum confirms the results achieved by Kazatomprom and Sumitomo Corp. on the joint development of the project on establishment of pilot production of bulk and individual concentrates of the rare earth metals in the framework of the Joint Venture <<SARECO>>, as well as agreements in the field of rare earth deposits development on the territory of the Republic of Kazakhstan, and technology transfer from Japan to the Republic Kazakhstan for value-addition of products based on rare earth metals.

NAC Kazatomprom JSC is the national operator of the Republic of Kazakhstan for export of uranium and its compounds, rare metals, nuclear fuel for nuclear power plants, special purpose equipment, technologies and double-use materials. The main activities of the company are: geological exploration, uranium production, manufacture of nuclear fuel cycle products, reactor construction, nuclear power plants, production of construction materials, the electric energy sector, scientific support of production and social welfare and training of personnel. Today Kazatomprom has more than 23,000 employees and is amongst the leading uranium production companies in the world.

www.kazatomprom.kz

Contact details for investors (Eurobonds):

Meirzhan Yussupov

Head of Treasury

el:. +7 /7172/ 551237

el../Fax: 7 /7172/ 551399

e-mail: myussupov@kazatomprom.kz

Meruyert Bekturganova

Treasury

el:. +7 /7172/ 551237

el../Fax: 7 /7172/ 551399

e-mail: mbekturganova@kazatomprom.kz