Steppe Cement Ltd

27 July 2010

Steppe Cement Ltd

Market update for the first half of 2010

In the first half of 2010, Steppe Cement Ltd sold 523,156 tonnes of cement for 4,694 million Tenge, compared to 442,227 tonnes of cement for 3,881 million Tenge in the first half of 2009.  This represents an increase of 18% and 21% in sales volume and revenue (Tenge) respectively compared to the first half of 2009.

The current period's average price (ex-VAT) for delivered cement was 8,972 Tenge per tonne compared with 8,776 Tenge per tonne in the corresponding period of 2009.

Ex-factory price for the current period stood at 7,755 Tenge per tonne.

The cement market volume in Kazakhstan increased by 19% period on period and the market share of Steppe Cement was maintained at 20% in the first half of both 2010 and 2009.

Steppe Cement's AIM nominated adviser is RFC Corporate Finance Ltd.

Contact Stephen Allen or Trinity McIntyre on +61 8 9480 2500.