Decisions of the prescheduled general meeting of shareholders of Valut-Tranzit-Bank JSC (Kazakhstan) - press-release

/KASE, December 8, 06/ - Valut-Tranzit-Bank JSC (Karaganda), shares and bonds of which are traded in Kazakhstan stock exchange's (KASE) category "B" official listing, had spread today the press-release with the following contention: Quoattion begin An extraordinary meeting of the shareholders of the "Valut-Tranzit Bank" JSC was held on December 7, 2006. The agenda of the meeting was as follows: - Introduction of corrections to the Bank's Charter. - On the receipt of the stabilization loan from the National Bank of Kazakhstan. - Approval of the Agreement on mutual understanding and restructuring of the liabilities with financial institutions Ч the creditors of the Bank - The meeting of the shareholders has decided to introduce several amendments to the Bank's Charter: - To change the location of the executive body of the society: 52, Auezov Str., Almaty city, the Kazakhstan Republic - The guaranteed amount of dividends for the preference shares could not be less than 0,05 tenge per one share. The periodicity of the payment for the preference shares of the society - one time a year and not later than three month after the first annual meeting of the shareholders meeting. - To determine the power of sign the Charter for the Chairman of the Board of Directors. - Also, the meeting has approved the proposal of the Chairman of the Board of Directors Steven Johnson on the receipt of the stabilization loan. As it was reported before, the Bank is conducting negotiations in this regard with the Agency on regulations and supervision of the financial market and financial organizations and the National Bank of the Republic of Kazakhstan. - During the shareholders meeting, special plans for covering the deposits to the Bank's clients and the Agreement on mutual understanding and restructuring of the liabilities, signed with creditors Ч financial institutions Ч on the amount of 7,5 bln. tenge were approved. Among the 20 institutions, which singed the Agreement are "Bank CenterCredit" JSC, "Bank Caspiyskiy" JSC, "Neftebank" JSC, "Temirbank" JSC, "NPF BTA Kazakhstan" JSC, "NPF Senim" JSC, "Bailyk asset management" JSC and other institutions. According to the singed agreement, the creditors of the Bank, including private banks and insurance companies, commit themselves not to dissolve the contracts of the banking deposits, that were concluded with the Debtor, until 2008 and the pension funds, until the maximum permissive period, as per the "Rules for investment management of the pension assets", approved by the Decree of the Executive Committee of the Agency on financial supervision of Kazakhstan from 26.11.05 #408 - From its side the "Valut-Tranzit Bank" JSC undertakes the commitment to conclude the additional agreements with the Creditors on prolongation of the Agreements of the banking deposits with the fee rate of 11% (eleven percent) per year commencing on November 16, 2006 and the annual payment. Besides, the Bank is obliged to conclude the additional agreements with the creditors on the change of the fee rates on banking deposits Agreements that end in 2008 with the fee rate of 11% (eleven percent) per year commencing on November 16, 2006 and the annual payment of the reward. - Also, the meeting of shareholders has approved the special plans for covering the deposits to the Bank's clients. - In such away, the last meeting of the shareholders and approved decision became another step towards financial stability of the Bank and its further development. - For further information, please, contact "Valut-Tranzit Bank" JSC (tel.: 8 (372) 269-79-72; e-mail: mataeva.g@vtb.kz (Ms. Gulsulu Matayeva) and "Image-Partner" Communications Group (tel.: 8 (327) 225-95-61/88, 225-99-76, e-mail: kmalik@image.kz (Malik Kushmukhanov) Quotation end [2006-12-08]