Bank Caspian JSC has informed of change in Board of directors and replacement of Chairman of Board

/KASE, May 31, 06/ - BANK CASPIAN JSC (Almaty), securities of which are traded in Kazakhstan stock exchange's (KASE) official "А" listing category, has spread press release which says as follows: The beginning of quotation On May 29 of 2006 in Almaty annual general Meeting of Shareholders of BANK CASPIAN JSC took place. By unanimous decision of Shareholders Michael N. Lomtadze, the partner of direct investments fund, Baring Vostok Capital Partners has come into the Board of directors. Also by decision of Board of directors Nurmukhamed A. Bektemisov has been designated as Chairman of Board of BANK CASPIAN JSC. Reference: Michael Lomtadze is the Partner of Baring Vostok Capital Partners. At present, Mr. Lomtadze is the member of Board of directors of three companies under control of Baring Vostok Capital Partners and Chairman of Board of directors of the company - Europlan, the leading leasing company of Russia. Mr. Lomtadze has large managerial and advisory experience. Before working in Baring Vostok, Mr. Lomtadze headed the company GCG Audit found by him, the leading consulting and auditing firm of Georgia, which in 2002 was acquired by Ernst & Young. As the leader of GCG Audit, Mr. Lomtadze consulted leading Western investors in the sphere of finances and strategy in such industrial sectors as: banking services, power engineering, telecommunication and transport. Mr. Lomtadze has Master Degree of Harvard Business College and Bachelor Degree of European Management College. Reference: Since the beginning of 2005 Mr. Bektemisov has occupied the office of Deputy chairman of Board of BANK CASPIAN JSC. During 2004, Mr. Bektemisov occupied the office of Deputy chairman of Board in Investment Fund of Kazakhstan. Before 2004 Mr. Bektemisov obtained large investment financial experience, working in London in leading western investment banks GOLDMAN SACHS INTERNATIONAL and MORGAN STANLEY INTERNATIONAL. Mr. Bektemisov has graduated from Republican Specialized Physics and Mathematics Boarding school named after O. Zhautykova, has Bachelor Degree in Economics of the University of Pennsylvania and Master Degree of Harvard Business College. The end of quotation [2006-05-31]