2009052601

Credit Event

JSC Astana Finance

Event Publicly Available Information:

On 19 May 2009, JSC Astana Finance published a press release and announced, inter alia, that: "Astana Finance and Astana Finance B.V. today announce their decision to suspend payments of interest and principal on their international obligations and, in the case of Astana Finance, to suspend principal payments on certain of its domestic obligations, as of 15 May 2009 in each case." Publicly Available Information is available at http://www.af.kz/en/press/news/2009/05/19/532/ It appears that a Failure to Pay Credit Event has occurred in relation to JSC Astana Finance. On 16 May 2009, Astana Finance B.V. was due to pay coupon on its USD 175,000,000 9.00% Notes due 2011 (the "Notes") (XS0275278256). The coupon payable under the Notes remains unpaid. JSC Astana Finance is a guarantor of the Notes.