Kazakhstan Kagazy announces New York-based value investing fund Phoenicia Capital has increased its shareholding in group to 27.5%

ALMATY, Kazakhstan , July 16, 2012 (press release) – Kazakhstan Kagazy announces that Phoenicia Capital LLC, a New York based value investing fund, has increased its shareholding in the Group to 27.5%

Tomas Mateos Werner, Chairman of Kazakhstan Kagazy comments:

“I am very pleased to welcome John not only as a valuable board member but now as a major shareholder. I am looking forward to working more closely with John. His extensive investment and operational experience will be of great value to the Group. John’s arrival is the beginning of another exciting chapter in the development of Kazakhstan Kagazy as a leading industrial company in Central Asia.”

John G. Khabbaz, Managing Director of Phoenicia Capital LLC comments:

“I am delighted to announce our increased shareholding in Kazakhstan Kagazy. Kazakhstan Kagazy fits well into our investment philosophy: we are long-term investors in businesses we understand, managed by people we respect. We view ourselves as their partners. Our only goal is to increase our net worth as the companies we are invested in maximize their long-term per-share business value, and to enjoy the process.

We look forward to a long and profitable partnership with Kazakhstan Kagazy.”

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