Changes in staff of Board of Directors of Valut-Transit-Bank JSC (Kazakhstan)

/KASE, October 17, 06/ - Valut-Transit-Bank JSC (Karaganda) bonds and shares of which are included into Kazakhstan stock exchange (KASE) category "A" official listing had spread today the informative message with the following: Quotation begin On October 15 2006 the prescheduled general meeting of shareholders of Valut-Transit-Bank JSC had taken place, on which were examined the actual questions about strategy of Bank's development. By the decision of shareholders were before time stopped the authorities of members of Board of Directors of Bank and was determined its new staff in amount of 8 people for three years' term. Memebrs of Board of Directors of Valut-Transit-Bank JSC became Steven Johnson, Malcolm Douglas, Kamal Allabush, Inesh Ibrayeva and Malcolm Tott. At that to the Board of Directors had also entered the independent directors: Steven Hubble, Frank Layzel and Reaz Griffit. As the Chairman of Board of Directors of Bank was elected Steven Li Johnson. As it is known, earlier the Chairman of Administration of Valut-Transit-Bank JSC was appointed Indira Sagindykova. The main task before the new top-management is conducting of re-structure of Bank and sooner solving of problems with liquidity. The strategic goal of Bank is reaching the leading positions in the quality of servicing the clients, physical and juridical persons. During the realization of strategy of Bank's development, the new command of managers will base on best examples of Western practice of Corporate management, cooperation with authorized bodies of state powers, and interaction with Kazakhstan financial institutes. One of the main priorities of Bank activities will be devotion to principles of social partnership with different audiences and responsibility for accepted decisions. Also on the prescheduled meeting was accepted the new organizational structure, which by the opinion of shareholders corresponds to the situation and will let to solve the strategic and tactical tasks of Bank within the shortest time. Quotation end [2006-10-17]