Mukhtar Ablyazov- the president of the Republic of Kazakhstan Nursultan Nazarbayev and his trusted adviser Bulat Utemuratov are the real owners of 48,73% share in "KazZink"

To the shareholders «Glencore International»

London Stock Exchange

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Ladies and Gentlemen !

                I would like to draw your attention to the fact that   the president of the Republic of Kazakhstan Nursultan Nazarbayev and his trusted adviser Bulat Utemuratov are the real  owners of  48,73% share in "KazZink",  the company that  «Glencore International» plans to buy.

                Consequently, the amount of 2  billion USВ and the shares in  «Glencore International»  worth  of  1  billion USВ will be at their disposal.

                I ' m saying this with certainty because I was personally informed about these facts by  Bulat Utemuratov himself.

                Besides, in 2005-2009, when Mr. Utemuratov  was blackmailing me on behalf of the President of Kazakhstan Mr. Nazarbayev  demanding to give him a share of "BTA bank",  he asked me to transfer the stocks to the companies that  control "KazZink" now.

                I have testified  this under oath to the High Court of Justice  in London.

                In particular, at some point in the long negotiations between Mr. Utemuratov and myself, I agreed to sell the 20% share of BTA Bank to him. An option call contract was signed with “Verny Investments Holding” by Mr. Utemuratov’s financial advisor Timur Isatayev.  He is now  in charge of the JSC “Verny Capital” and he also represents this company in the deal selling the 48.73% of the “KazZinc” shares to “Glencore International”.

                I firmly believe that, without a doubt, the “KazZinc” company must once again become the property of the Republic of Kazakhstan because Mr. Nazarbaev and Mr. Utemuratov acquired it during the unfair, unlawful, nontransparent and criminal privatization.  

                Therefore it is my duty to inform you about the risks of acquiring the assets of the “KazZinc” company. The assets already bought and the assets that will be bought in the future according to  the contracts signed  on April 13 2011 by “Glencore International” and the investment funds “Vernye Investitsii” and “Verny Capital”.

                The public organization of Kazakhstan have already informed “Glencore International” about who the real beneficiaries of “KazZinc” are and how it became the property of Mr. Nazarbaev and Mr. Utemuratov. Thus there is a risk that “Glencore International” will not be considered a benevolent buyer at the future court hearings.

                Also, participating in acquiring the “KazZinc” shares and paying 3.2 billion USD for the assets stolen from the people of Kazakhstan makes “Glencore International” an accessory to money laundering scheme.

                Let me remind you that not only did Mr. Utemuratov acquired the “KazZinc” assets while in civil service but also he is a trusted advisor to the President of Kazakhstan and, just like Timur Kulibaev, holds his assets for  Nursultan Nazarbaev. A criminal case has already been opened against Timur Kulibaev in Switzerland. He is accused of money laundering.

                The full version of my testimony can be found at: http://www.friendsofablyazov.com/Legal_Documents_and_Reports.htm

                With respect,

                Mukhtar Ablyazov

25.05.2011