American Stock Exchange News Release

Equity Release
Media Contact: Catherine Chantharaj
American Stock Exchange
212-306-1689/catherine.chantharaj@amex.com



AMERICAN STOCK EXCHANGE LISTS COMMON STOCK OF BMB MUNAI, INC.

New York, September 21, 2006 -  The American Stock Exchange (Amex) today listed the common stock of BMB Munai, Inc under the ticker symbol KAZ.

BMB Munai, Inc. is an independent oil and gas company engaged in the exploration, development and production of crude oil and natural gas. The Company's operations are primarily focused onshore in proven oil and gas producing territories of the Caspian Sea region of the Republic of Kazakhstan.

"BMB Munai, Inc. is one of the many exploration companies that have chosen to list on the American Stock Exchange, and we are excited to welcome them," said John McGonegal, Senior Vice President of the Amex Equities Group. "As a growing company, BMB Munai needs a listing venue that will help them achieve the next stage of their development, and the Amex looks forward to filling that role."

"We are proud to be listed on the American Stock Exchange. We believe our affiliation with the Exchange and J. Streicher & Co. will prove to be a valuable benefit to our shareholders and our Company as we continue to execute our business plan," said Askar Tashtitov, President of BMB Munai. The specialist in BMB Munai, Inc. will be J. Streicher & Co., LLC. For further information on KAZ and other Amex-listed companies, please visit www.amex.com.

About American Stock Exchange

The American Stock Exchange® (Amex®) is the only primary exchange that offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRSSM. In addition to its role as a national equities market, the Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the Amex lists 195 ETFs to date. The Amex is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks.