Kazkommertsbank JSC (Kazakhstan) had signed agreement on cooperation with JV Tengizshevroil - press-release

/KASE, September 7, 06/ - Press-service of Kazkommertsbank JSC (Alamty), shares and bonds of which are trading in the official list of Kazakhstan stock exchange (KASE) of "A" category, had spread the press release in which following is informed: quotation begin Kazkommertsbank in August had signed the agreement with JV Tengizshevroil (TShO), one of the biggest oil extractors in Kazakhstan. The choosing by TShO company its financial partner in face of Kazkommertsbank was made by tender, which lasted during the year. Kazkommertsbank had passed all stages, including detalization in all banking services, quality and conditions of rendered products. The signed contract means the cooperation on rendering the banking services, with this for TShO were developed the special suggestions. In particular, mortage - "Housing program for employees of TShO", provided the crediting of houses for employees of company on the most flexible conditions - without primary payment, and for the long terms by lowered rates. Being the big corporate client of largest world banks, TShO had choose as its partner for employees the Kazakhstan bank. For Kazkommertbank TShO is interesting as big client with huge potential. Bank is aimed on advancing the retail products among employees of the company. Kazkommertsbank is planning the building of special departments of bank directly on the objects of TShO for comfort of company's employees. Kazkommertsbank is interested in attracting other foreign companies in West Kazakhstan. "We are planning the long term relationships with companies of world names, which make different contract and service works on Tengiz, such as well-boring, projecting, building and servicing of fields, construction of infrastructure and more else", - the director of Atyrau branch of Kazkommertsbank Didar Orazaly says. Tengizshevroil JV (TShO) is one of the largest joint ventures in oil industry of Republic of Kazakhstan. TShO is founded in April 1993, and its main objective is working of one of the largest in the world Tengiz oil field, situated in West Kazakhstan on the territory of Atyrau region. By the conditions of contract the sum of foreign investments into this project totals $20 bn. At the present time the partners of TShO are NC KazMunayGas (with stake 20%), Shevron Overseas Petroleum Inc. (50%), ExonMobil Kazakhstan Ventures Inc. (25%) and LukArko (5%). Kazkommertsbank JSC by the totals of 2005 takes the fourth place by the volume of assets in the ranking of Interfax-CEA, and first place among commercial banks of Kazakhstan. Assets, according to the audited reports of the last year, made about $8.9 bn., size of loan portfolio - $5.4 bn., equity capital - $652.1 m. Kazkommertsbank - is the only from financial institutions in CIS and West Europe who had entered to the family of Dow Jones indexes. Press-service of Kazkommertsbank JSC Tel. 585-392. quotation end [2006-09-07]