Subsidiary Organization JSC VTB Bank (Kazakhstan) announces March 28, 2011 decisions of its Board of Directors

/KASE, April 14, 11/ - Subsidiary Organization JSC VTB Bank (Kazakhstan) (Almaty, hereinafter - the Bank), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has by an official letter informed KASE of the following decision its Board of Directors took on March 28, 2011: quote 1. The Bank's Y2010 financial statements were pre-approved, including: - Report on Financial Position as of December 31, 2010. - Report on Total Revenues for the year ending December 31, 2010. - Report on Changes in Capital for the year ending December 31, 2010. - Cash Flow Statement as of December 31, 2010. 2. The Y2010 auditors' report of the Bank's financial statements prepared by Ernst & Young was taken note of. 3. The Bank's Shareholder was recommended to approve the Bank's Y2010 annual financial statements certified by Ernst & Young, the auditor. 4. An Ernst & Young letter to the Bank executives regarding auditing for the year ending December 31, 2010. 5. The Bank's Management Board was instructed to take necessary measures in response to the Ernst & Young's letter and report back not later than 3rd quarter 2011. 6. The Bank's Shareholder was recommended not to distribute the Bank's Y2010 net income and not to pay out dividends due on the bank's common shares for 2010. 7. A decision was taken to make an agreement on processing services with the affiliated legal entity of the Bank. 8. A decision was taken to make an agreement on electronic document circulation with the affiliated legal entity of the Bank. 9. An increase of financing limit per legal entity of up to KZT1,384,150,000 (one billion three hundred eighty four million one hundred fifty thousand) (equivalent to USD9,500,000 (nine million five hundred thousand) was approved. With all related queries, please contact the Corporate Secretary of SB Bank VTB (Kazakhstan), A. Mustafin on tel. +7 727 330-41-34 unquote [2011-04-14]