OREANDA-NEWS. July 29, 2011. BMB Munai, Inc. (NYSE Amex: KAZ) (the "Company") confirms that the audit opinion of the Company's independent registered public accounting firm included in the Annual Report of the Company on Form 10-K for the year ended March 31, 2011, which was filed on June 29, 2011 (the "Annual Report on Form 10-K"), contained a going concern qualification.  The going concern qualification was required as a result of the previously announced pending sale of Emir Oil LLP, which has been approved by the Company's shareholders and which was deemed probable as of the date of the audit opinion.  Following completion of the sale of Emir Oil LLP and planned cash distributions to Company shareholders, the Company will have no continuing operations that result in positive cash flow, which raises substantial doubt about the Company's ability to continue as a going concern.

This announcement is required by Section 610(b) of the NYSE Amex Company Guide, which requires a listed company that receives an audit opinion containing a going concern qualification to publicly announce such through the news media. This announcement and press release do not represent any change or amendment to the Company's Annual Report on Form 10-K.

The Company does not believe the going concern opinion or the information contained in this press release will have any impact on the pending sale of Emir Oil LLP.