Letter of Credit

Almaty, 25 September 2015 - Kcell Joint Stock Company (Kcell or Company) (LSE, KASE: KCEL), the leading provider of mobile telecommunications services in Kazakhstan by market share in terms of revenue and subscribers, today announces that a standby letter of credit for USD 10 million, within the framework of the General Agreement between Kcell JSC and Citibank Kazakhstan JSC, was issued on 23 September 2015.

This instrument has been issued in favor of Apple Distribution International (Ireland) to allow Kcell to extend the term of payment for goods purchased from the company, and will have a positive impact on Kcell’s working capital.