/IRBIS, Zaure Yessimova, March 23, 05/ - Bank TuranAlem JSC (Almaty, hereinafter Bank), whose shares and bonds are traded in Kazakhstan stock exchange's (KASE) official "A" listing category, has spread press-release saying on March 22 of 2005 in Tbilisi there was signed a memorandum about strategic partnership between the Bank and Georgian group of companies Silk Road.

According to the information, the strategic partnership will be realized through the joint participation in the authorized capital of Silk Road Bank, which in the future will be called BTA Silk Road Bank, with Bank's stake equaling to 49% of shares.

The sides say major aims of the strategic partnership are development of a big universal and politically independent financial institution in Georgia, which will meet all modern requirements and international standards in commercial banking.

Bank's governing body met with Mikhail Saakashvili the president of Georgia, K. Bendukidze the state minister on economic development, leading Georgian businessmen, there was signed a Memorandum about cooperation with city administration of Tbilisi city.

The priority guidelines of activity of BTA Silk Road Bank will be: trade financing for exporters and importers for development of volumes and improvement of quality of foreign trade activity of country's private business;
mortgage crediting of population and small business subjects, directed towards mid- and long-term financing of property purchasing in Georgia;
financing of small and medium business subjects for development of this strategically important for Georgian economics segment.

The new bank intends to do its best for development of country's financial sector, promote Georgian companies on international financial markets stimulating foreign investments inflow to Georgia. Besides, BTA Silk Road Bank intends to render for population the innovative retail financial services worked out and tested in BTA's system.

"Working effectively over development of CIS transport corridors and within TRASECA, in Kazakhstan since year 2001, Silk Road Group has made sure of perspectives of its business development in Georgia and, starting from year 2004, started realizing several big projects. Being one of old key clients of BTA, the Georgian company invited its Kazakhstan partners to take part in development of Silk Road Bank. At last, an important not only for Tbilisi but for the whole Georgia is reconstruction of "Iveriya" hotel into the fie-star hotel.

The made agreement has considerably contributed to consolidation of long- term economic and cultural relations between Georgia and Kazakhstan. It's been made on the threshold of the official visit of Saakashvili to Kazakhstan in March of 2005", - Bank's message says.

Bank's press-service says, in 2004-2005 Bank planned opening of representatives in Minsk (Byelorussia), Bishkek (Kyrgyzstan), Tbilisi (Georgia), Baku (Azerbaijan), Dushanbe (Tajikistan), Yekaterinburg (RF), Yerevan (Armenia). Before, representatives in Moscow, Kiev and Shanghai (CPR) were opened. At present Bank's representatives in Tbilisi is on the final stage of registration in the authorized institutions of Georgia.

Main function of this representative office will be promotion of Bank's products, among which - trade financing products through various instruments - letters of credit, guarantees; organization of syndicated loans;
joint financing of corporate clients with local banks; treasury products;
design financing and so on. The representative office provides consultations for banks, clients concerning search of optimal schemes of financing, structure deals, initiate projects to the head Bank. Besides, the representative office also executes the function of information-methodical center.

"Opening of Bank's representative office in Georgia is one of most important stages in realization of BTA's strategy "One bank, on account, all CIS" - bank's message says.

Below is supplemental information about group of companies Silk Road prepared by Bank.

Silk Road Bank JSC was founded in 1993-94 on the base of "Diskont Bank" and is today controlled by Silk Road Group. Bank is the founder of Tbilisi interbank currency exchange (7.7%), stock exchange (3.7%) and central interbank securities depository (12.5 %). Till now bank financed small-scale operations on trade and real estate. Major reason of such the insignificant activity was the fact that "Silk Road Group" spent all energies for transporting activity in Caspian region.

Within the last ten years Silk Road Group has become one of leading transport-logistics companies in Central Asian countries (Kazakhstan, Uzbekistan, Turkmenistan, Iran, Azerbaijan). Georgian group has worked out several unexampled transit routs, by means of which new export possibilities have appeared in the region.

Experts of Silk Road Group have created a unique program of computer monitoring of railway traffic, which lets constantly control transportation of cargoes in various directions. Up to 300 specialists work in company's logistics centers, which are situated in 23 cities of 7 countries of the region.

[2005-03-23]