Kazkommertsbank JSC (Kazakhstan) took the responisbilites of a local financing bank and of an agent providing two loans with participation of EBRD

/KASE, July 19, 07/ - Kazkommertsbank JSC (Alamty), whose securities are traded on the Kazakhstan Stock Exchange's (KASE) official list under "A" category, had spread the press-release in which it is announced the following: Beginning of citation On July 18, 2007, Alamty - Kazkommertsbank became the local security agent and the local financing bank within two loans with participation of European Bank of Reconstruction and Development (EBRD) for the domestic companies, Kazakhstan Kagazy and Каrcement. The amount of the loan given by Kazkommertsbank to the biggest producer of paper in Kazakhstan is equal to $45 m.; the total sum of the deal totals $90 m. Financing is organized with the goal of the further development of goffer-production and extending the capacities, and also for the diversification of the production. Kazkommertsbank have carried financing of Kazakhstan Kagazy for the last six years. And the co-coordinator and co-underwriter during the issue of the two bond loans on KASE, which contributed to the increase of production pace, was the Kazkommerts Securities company (daughter organization of Kazkommertsbank). Currently, Kazakhstan Kagazy is the biggest domestic supplier of paper production on the Central Asia market. The loan will be used for the business development, considerable growth of sales and production planned on 2008-2009, particularly, due to the inclusion of the additional services, such as change of wrapping already in use by the producer. Another joint project of Kazkommertsbank and EBRD that is launched simultaneously is financing Karcement JSC with a goal of modernization and recovering of cement production lines by "dry" method on the Karagandinskiy Cement factory which is already owned by the company. The project's sum is $65 m. Kazkommertsbank will finance a part of the project for the value of $23.2 m., EBRD - for $42 m.; the total cost of the whole project is assessed as $156 m. The realization of this project will allow to considerably increase the production of cement, the need for which in Kazakhstan is growing each day. While, currently, the factory is producing 0.8 m. tons of cement per year, after the completion of the modernization, the expected capacity will reach 3 m. tons per year. After that the Karagandinskiy Cement factory will become the biggest producer of cement in the region. Founede in 1990, Kazkommertsbank (www.kkb.kz) is the biggest private financial institution in Kazakhstan by the amount of assets, loan portfolio, and profit. By the amount of net assets, Kazkommertsbank is firmly taking the fourth place in CIS - after Russian state Sberbank, Gasprombank, and Vneshtorgbank. Unlike many banks, that were created on the basis ov Soviet banks, having huge capital and clientele formed in the years, Kazkommertsbank was the first among Kazakhstan banks that made the initial public offering of its shares (IPO) on London Stock Exchange. Contact inforamtion: Larissa Kokovinets Public Relationships Department Director Kazkommertsbank JSC Tel.: +7(327) 258 54 56 E-mail: pr@kkb.kz End of citation [2007-07-19]