15.02.2006

PLACEMENT OF 14 MILLION NEW SHARES

Steppe Cement Ltd has successfully completed the placement of $21 million raised through the issuing of 14 million shares priced at $ 1.50 each. The new shares are now traded on AIM of London Stock Exchange. The proceeds together with EBRD?s $ 35 million loan and Central Asia Cement JSC?s $ 20 million bonds issue in March/April will be used for the refurbishment of lines 5 and 6, which when ready will add a total of 2.3 million tons production capacity to the Group.