BANK CASPIAN JSC (Kazakhstan) disproved the information about negotiation with Raiffeisen International on shares sale -press release

/KASE, August 22, 07/ - BANK CASPIAN JSC (Almaty), shares and bonds of which are traded in Kazakhstan stock exchange's (KASE) category "A" official list, today, has provided KASE with the press-release of next contention: Quotation begin In response to the information published on August 21 of 2007 by Bloomberg agency with the reference on Boerse Express online magazine, Bank Caspian JSC disproved the rumours about conducting negotiations on sale shares with Raiffeisen International Bank. "Bank Caspian and its shareholders do not conduct any negotiations about selling shares, - declared Mihail Lomtadze, the representative of Board of Bank Caspian. - We have a long-term strategy of development. A high level of capital, access to resources and high-quality growth create unique opportunities for our bank's development. Caspian bank has one of the highest levels of capital's adequacy among Kazakhstani banks, which says about its high stability and reliability". "The shareholders of Caspian bank entirely approve the strategy of development, - added Vyachaslav Kim, the representative of the Board of directors of Bank Caspian JSC. - We have a talented team that realize the a long-term strategy approved by the shareholders in the beginning of this year. Moreover, a leading investment fund, Baring Vostok Capital Partners is our partner. During the last several months, we have invested more than ten billion tenge in the bank's capital." "At the present time, the situation formed on the banking market is favorable for Bank Caspian, - commented Michael Kalvi, the executive partner of Baring Vostok Capital Partners. - Our main goal is to use this unique opportunity and to increase our market share, especially, in the segment of crediting natural persons and small- and middle-sized companies. We are planning to continue investing our resources in Caspian bank to realize this strategy." Bank Caspian JSC: Bank Caspian JSC enters the 10 of leading banks of Kazakhstan with assets, exceeding KZT216 bn. and consolidated capital of about KZT36 bn. The Bank takes the leading positions in consumer crediting. Retail network of Bank consists form 147 departments and 548 sales offices of express credits, servicing more than 2000 trade companies. Credits to companies of small and middle business and population of Kazakhstan make more than half of Bank's credit portfolio. Leading investment fund Baring Vostok Capital Partners is the investor to Bank Caspian JSC www.bc.kz Baring Vostok Capital Partners: Baring Vostok Capital Partners specializes on investments to CIS. Since year 1994 funds of Baring Vostok invested more than $600 m. to 50 companies, among which the number of successful companies in the sphere of financial services, oil and gas field, telecommunications, mass media, in consumer sector including such banks as Bank Caspian, Europlan, Center of Financial Technologies, Barren Energy, Vympelkom, Golden Telecom, Sladko, Borjomi, Yandex and Ozon Among investors of fund are such famous international financial institutions as European Bank for Reconstruction and Development, International Financial Corporation ad also largest in the world pension funds, governmental investment corporations, university funds form America, Europe and Asia. Baring Vostok enters the composition of Baring Private Equity International, group of direct investments' funds management with $3.5 bn. of assets in CIS, Asia, India, Europe and Latin America. Fro additional information please contact: Larisa Pak Director of Corporate communications center of Bank Caspian JSC Tel.:01-800 int.1099 E-mail Larissa.Pak@bc.kz Mobile: +7 701 222 9339 Quotation end [2007-08-22]