Freedom Holding Corp. — Director's Dealing 2006

Jun 22, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BMB MUNAI INC (BMBM)
CIK: 0000924805
Period of Report: 2005-07-18

Reporting Person: CHERDABAYEV BORIS (Director, CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-07-18	Common	A	189744	$4.75	Acquired	3332601	Direct
2006-06-20	Common	A	80000	$7.00	Acquired	3412601	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-07-18	Option	$4.75	A	410256	Acquired	2010-07-17	Common (410256)	Direct
2006-06-20	Option	$7.00	A	150000	Acquired	2009-06-19	Common (150000)	Direct

Footnotes

F1: 2,552,126 shares held indirectly by Westfall Group Limited FBO Boris Cherdabayev