Alliance Bank (Kazakhstan) downgrades its assets through deterioration of securities portfolio

/KASE, April 1, 09/ - Alliance Bank (Almaty), a company listed on Kazakhstan Stock Exchange (KASE), provided KASE with a press release: Quotation beginning Today Alliance Bank announced on planned downgrading of its assets through deterioration of securities portfolio. Currently, the Bank is assessing the affect of downgrading on its financial results. Information on the size of assets of the Bank after the revaluation will be brought to notice in an additional note. Alliance Bank informed state supervising and regulating bodies, in particular, the Agency of the Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Organizations (AFS RK), Fund of national wellbeing Samruk-Kazyna (as a state body, responsible for implementation of the Government anti-crisis program, including the financial sector, a prospective shareholder of Alliance Bank), and the London Stock Exchange on the planned revaluation of its assets. Therewith, Alliance Bank deems necessary to inform its clients, depositors and a wide array of public that this revaluation is being made for purposes of improvement of the situation in the Bank, and will in no way affect operation of the Bank and its capability to meet obligations. As on March 1, 2008, according to financial statements according to Kazakhstan accounting standards, Alliance Bank assets reached KZT1,146 bn., own capital - KZT159 bn. For detailed information, please, contact: Public Relations Service Tel.: +7 (727) 258 40 40 E-mail: pr@alb.kz Website: www.alb.kz Quotation end [2009-04-01]