ORDER OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKHSTAN

of August 8, 2007 No. 680

About some questions of debt repayment in electric power industry

For the purpose of normalization of relations and creation of conditions for debt repayment in electric power industry before legal entities of foreign states the Government of the Republic of Kazakhstan DECIDES:

1. Create Dostyk Energo joint-stock company (daleeobshchestvo) with 100 percent participation of the state in the authorized capital and determine the main subject of its activities settlement and debt repayment of the Kazakhstan companies in electric power industry.

2. To the Ministry of Finance of the Republic of Kazakhstan together with the Ministry of Energy and Mineral Resources of the Republic of Kazakhstan in the procedure established by the legislation to take measures for payment of the placed shares of Society within 1849826000 (one billion eight hundred forty nine million eight hundred twenty six thousand) tenges provided in the republican budget for 2007.

3. Allocate to the Ministry of Energy and Mineral Resources of the Republic of Kazakhstan from reserve of the Government of the Republic of Kazakhstan provided in the republican budget for 2007 on urgent costs of 25000000 (twenty five million) tenges on fee on settlement and debt repayment of the Kazakhstan companies in electric power industry.

4. To provide to the Ministry of Finance of the Republic of Kazakhstan control of target use of allocated funds.

5. To provide to committee of state-owned property and privatization of the Ministry of Finance of the Republic of Kazakhstan in the procedure established by the legislation:

1) approval of the charter of Society and state registration in judicial authorities of the Republic of Kazakhstan;

2) forming of the authorized capital of Society by payment of shares from means, the stipulated in Item 2 presents of the resolution;

3) assignment of rights of ownership and use of the state block of shares of Society to the Ministry of Energy and Mineral Resources of the Republic of Kazakhstan;

4) acceptance of other measures following from this resolution.

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