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Firm Represents Bond of the Year Winner

February 16, 2009

Houston, TX (Feb. 16, 2009) — JSC National Company KazMunayGas (KMG), a client of Bracewell & Giuliani LLP, received the prestigious International Financing Review (IFR) Emerging Bond of the Year Award at the 14th annual ceremony. The IFR awards have become a benchmark for outstanding performance in the execution of bond transactions and recognize achievement in global capital markets.

Bracewell announced the successful completion of the KMG $3 billion debut offering of notes in July 2008. This is the largest bond offering in the Central and Eastern Europe region and one of the largest deals ever completed in any emerging market.

The January 12, 2009 ceremony included more than 1,000 of the world's most senior investment bankers and company executives, celebrating the achievements of the particularly challenging year of 2008. Bracewell provided legal counseling services to KMG during this time in connection with the offering of notes.

KMG's landmark bond issue and IFR award contribute further to the strengthening of Kazakhstan's financial reputation in the world and demonstrate international investors' trust in the country's economy and development of its oil and gas sector. Bracewell maintains two offices in Kazakhstan and has been active in the Caspian region capital markets since 1994. Bracewell is ranked among the world's leaders in oil and gas transactional, regulatory and litigation work in Chambers and Partners Global Guide, 2004-2008.

Bracewell & Giuliani (UK) LLP works closely with other Bracewell offices to provide English law services to international clients. From its London base it works in conjunction with Bracewell offices in Kazakhstan, New York, Dubai, Connecticut, and Houston. Bracewell & Giuliani (UK) LLP focuses on international capital markets, banking, securitizations, structured finance, and mergers and acquisitions in emerging markets, including Kazakhstan, other countries of the former Soviet Union and Ukraine.