Emerging Market Leader Reacts to Massive Bailout Plan Announced by U.S. Government

Kazyna's Alexander Mirtchev Calls for Balanced Government
Involvement
WASHINGTON--(Business Wire)--
Today's market increases and the announcement by the U.S.
government to undertake a major bailout plan to restore confidence in
the world financial system, prompted a rare comment from Alexander
Mirtchev, Chairman of the Board of Directors for the Kazakhstan
Sustainable Development Fund, Kazyna. Dr. Mirtchev provided thoughts
on what the suspension of an unfettered free-market in the United
States could mean for emerging economies, including Kazakhstan.

"There are dire predictions being made about the impending
meltdown of emerging markets. The predictions are based on the
assumption of a steep decline in commodity prices, combined with a
liquidity squeeze that, taken together, will wipe out the reserves of
transitional market countries," said Dr. Mirtchev, who is also the
founder of the Washington-based consulting firm Krull Corporation.

He continued: "Emerging markets are all different. It is just a
label that does not describe the reality of an economy. Emerging
markets have experienced declines and weathered many storms and years
with no reserves. In the case of the Kazakh economy, it depends a lot
less on financial schemes that need to be unwound than the so-called
mature markets. In times of trouble, the people of the emerging
markets will work harder, their commodities will be put to good use
domestically and in the region, and their companies will survive,
restructure and come out stronger."

The mission of Dr. Mirtchev's work at Kazyna is to improve the
competitiveness, stability and diversify the national economy of
Kazakhstan, as part of the overall market reforms agenda. His comments
reflect the unique ability of the Kazakhstan economy to withstand a
downturn in world financial systems.

"Each country has different approaches to dealing with market and
financial crises. For example, Kazakhstan is introducing an "Assets
Stabilization Fund" to address specific problems of the banking sector
caused by the financial crisis," Dr. Mirtchev said. "Such government
measures may not be right for other countries, but some form of
government supervision must take place, as markets, not to mention
market players, sometimes do not stick to what is in the textbooks."

As an individual who grew up under Communist rule in Bulgaria and
who later came to excel in the free-market of the United States, Dr.
Mirtchev added a personal note to involvement by the government in the
open markets.

"Irrespective of the fact that dramatic market movements have
immediate impact on personal lives, it is undeniable that the market
should have its final say. Drastic volatility and market turmoil have
their underlying rationale in market principles, which cannot be
ignored. Without being too interventionist, governments should embrace
the reality that they have certain responsibilities towards how market
players operate, in particular, the rules of the game, and how to
prepare for and mitigate the possible social fallout, keeping in mind
the Law of Unintended Consequences.

For more information, visit www.KrullCorp.com.

About Krull Corporation

Krull Corporation is a Washington, DC-based advisory and project
management firm with expertise in dealing with economic growth,
industrial expansion and restructuring issues. Founded by Dr.
Alexander Mirtchev in 1992, Krull Corporation capitalizes on his
extensive professional experience in market developments and reforms
and focuses primarily on emerging and transitional economies. Over the
years, the firm has provided its clients with outstanding strategic
guidance and professional services in various areas. Combining a
unique blend of global reach and understanding of local markets, Krull
is able to consistently produce high quality results and returns.

For Krull Corporation
Matt Lauer, 202-683-3127
mlauer@qorvis.com

Copyright Business Wire 2008