OREANDA-NEWS. September 30, 2011. MB Munai, Inc. (NYSE Amex: KAZ) (the "Company") today announced an initial cash distribution of USD 1.04 per share, which will be payable on October 24, 2011 to Company common stockholders of record on October 10, 2011.  This cash distribution is the first of two anticipated cash distributions to Company stockholders from the transaction proceeds of the sale of the Company's operating subsidiary, Emir Oil LLP, to a subsidiary of MIE Holdings Corporation (HKEx: 1555).  The initial distribution amount was determined after giving effect to the estimated closing adjustments and escrow amount and the repayment of the Company's 10.75% Convertible Senior Notes and after providing for the payment of or reserve for other anticipated liabilities and transaction costs. 

The Company intends to make a second distribution to stockholders that could range up to approximately USD 0.30 per share following termination of the escrow on the first year anniversary of the closing date, subject to the availability of funds to be released from the escrow, actual costs incurred and other factors. 

As previously announced, delisting of the Company's common stock from the NYSE Amex will become effective following the close of business on September 29, 2011.  The Company's common stock is expected to be quoted over-the-counter on the OTCQB, operated by OTC Market Group, Inc., beginning on September 30, 2011 under the stock symbol "BMBM".  While the common stock may be quoted on the OTCQB, there can be no assurance that a market for the Company's common stock will develop on the OTCQB or otherwise.