OREANDA-NEWS. October 15, 2010. Kazakhmys PLC (the "Company" or "Kazakhmys") announces that its Chairman, Vladimir Kim, has sold an interest in 58,876,793 ordinary 20p shares (representing approximately 11% of the shares in issue). The transaction was executed on the Kazakhstan Stock Exchange at 3,363 KZT per share, based on a closing mid-market share price of 1,423 pence per share, as derived from the Official List of the London Stock Exchange, on 4 October 2010. The shares were purchased by National Welfare Fund Samruk-Kazyna JSC (“Samruk-Kazyna”).

Mr Kim's interest in the Company is now 149,306,795 ordinary shares (representing 27.9% of the shares in issue). The interest of the Government of Kazakhstan has increased to 139,162,843 ordinary shares (representing 26.0% of the shares in issue), including The State Property & Privatisation Committee's* existing 15.0% interest.

The transaction enables Mr Kim to diversify his investment portfolio whilst retaining a significant    long-term    shareholding    in    Kazakhmys.     The    transaction    represents    the    first

disposal of Kazakhmys shares by Mr Kim since the Company’s IPO on the London Stock Exchange in 2005. Mr Kim continues to be Chairman of Kazakhmys and remains firmly committed     to     his     role    leading     Kazakhmys     in     delivering    its     strategic     objectives.     The

Government of Kazakhstan’s increased shareholding in Kazakhmys, through Samruk-Kazyna, demonstrates a positive commitment by the Kazakh sovereign wealth fund to a strategically important company within Kazakhstan.

Mr Kim has undertaken to the Company not to sell any further interest in Kazakhmys shares for 12 months following this announcement, save for up to 21,409,614 ordinary shares (currently representing 4.0% of the shares in issue) which he has agreed to make available to facilitate the provision of liquidity for a possible secondary listing on the Hong Kong Stock Exchange in 2011.

*State Property & Privatisation Committee of the Ministry of Finance of the Republic of Kazakhstan