BANK CASPIAN JSC (Kazakhstan) announced about formation of the Council of directors the banking holding CASPIAN GROUP B.V.

/KASE, April 24, 07/ - BANK CASPIAN JSC (Almaty), securities of which are traded in the official list of Kazakhstan stock exchange (KASE) under "А" category, has spread today the press release to the following effect: Quotation start Bank Caspian informed of inviting Directors of CASPIAN GROUP B.V. to enter the Council, the banking holding and 95% shares owner of BANK CASPIAN JSC, three high-experienced professionals: David Huckster, Douglas Gardner and Nikolay Zinovyev. The Council of directors' determines the strategy of development and runs control of efficiency of Bank Caspian JSC's activity. One of the most important tasks for the Council of directors to perform is to provide completeness, truthfulness and objectiveness of public information about the Bank. Two committees are attached to the Council of directors: Audit Committee and staff Committee. Audit Committee, under leading hand of Gardner, will be engaged in compiling of financial statements and work with auditors of Bank Caspian JSC. Staff Committee, headed by Mr. Huckster will be occupied with question of staff policy and taking on top managers and workers of the bank. David Huckster has a big experience of work in leading international financial institutes. Since 1992 to 1999 Mr. Huckster has worked in the European Bank of Reconstruction and Development (EBRD), in which he carried out the office of Vice-President and Chairman of Investment Committee. Being in this position, he was responsible for investments of EBRD in the financial sector of Middle Asia, Russia, Eastern and Central Europe. Before holding the post in EBRD, Huckster has worked in Citybank for over 20 years in different positions and led business of Citybank in Greece, Southern Africa, Central and Eastern Europe. Douglas Gardner has worked for over 20 years in the biggest auditing international companies, led audit practice of Central Asian countries, in particular, and has been charged with banks' auditing. Since 2002 to 2004 Mr. Gardner has been Senior Partner of the company Ernst and Young, and has been charged with audit of CID banks. The biggest banks of Russia and Central Asia were in the number of his clients, including Kazakhstan. Since 2004 to 2006 Mr. Gardner has been Managing Partner of Ernst and Young in CIS. Nikolay Zinovyev is the President and founder of the company "Europlan", which is the leading auto leasing Russian company. Having founded the company Europlan in 1999, Mr. Zinovyev turned Europlan into the biggest company in the field of automobile leasing with portfolio of over 12,000 cars and running 40 offices through out the country. According to the rating by "The Kommersant", Mr. Zinovyev entered into the list of best managers of financial Russian companies. The company Europlan is a portfolio company of "Baring East Capital Partners", the leading international investment fund and a shareholder of Bank Caspian JSC. Commenting on the mentioned events, Chairman of the Council of directors of Bank Caspian JSC Vyacheslav Kim said: "One of the moist important priorities of the bank is introduction of high Western standards of the corporate management. Coming of the first class professionals into the council of directors with stainless reputation is one more important acknowledgement of the strategy of Caspian Bank, targeted at openness and transparency of its activity. This event raises to the new level the quality of corporate management in our Bank and oblige the banking sector of Kazakhstan upon the whole to follow these standards". The member of the council of directors and the partner of "Baring East Capital Partners" Mikhail Lomtadze added: "Our goal is to borrow the best knowledge and the most appropriate experience together with our investments. The Council of Directors must go first of all with high standards of management, which determines the long-tern strategy of the Bank's development. The joint work of the experienced Members of the Council of directors with the first class management team is a serious footing for successful development of bank Caspian". Reference: The Banking holding CASPIAN GROUP B.V. acquired the official status of the banking holding in October 2006 and is holder of 95% voting shares of Bank Caspian JSC. "CASPIAN GROUP B.V." has a credit rating at ВВВ, assigned by Fitch Ratings. Bank Caspian JSC enters into top ten banks of Kazakhstan, having assets, which exceed 200 bn. ($1.6 bn.) and the consolidated capital over KZT34 bn. ($274 m.). The bank occupies the leading positions in the field of retail crediting. Retail network of the bank consists of 147 departments and 548 offices to sell express credits, attending to over 2000 trading companies. More than half of the credit portfolio of the bank makes credits for small and medium business and for Kazakhstan population. www.bc.kz "Baring East Capital Partners" controls assets of four direct investment funds in CIS. Since 1994 these funds invested over $600 m. in 50 companies. Some financial companies as wells as companies in the field of oil and gas, telecommunication and mass media sector, also some companies of the consumer sector, including such as Bank Caspian, "Europlan", Financial Technologies center, Barren Energy, "Vympelkom", "Golden Telecom", Syktyvkarskiy LPK, "Sladko", "Borjomi", "Yandex" and "Ozone". There are famous investors of funds, headed by Baring East, they are international financial institutions, pension funds, government investment corporations, university funds from America, Europe and Asia, including European Bank of Reconstruction and Development, International Financial Corporation and Netherlands State Development Agency FMO. "Baring East" enters into "Baring Private Eaquity Partners International", the group, managing direct investments funds, having $3.5 bn. assets in CIS countries, in Asia, India, Europe and Latin America. www.bvcp.ru Press service of Bank Caspian JSC: Yelena Vakirova, tel: +7 (327) 250 18 00 (х1280); e-mail:vakirovae@bc.kz Quotation end [2007-04-24]