Financial Corporation Seimar Alliance JSC (Kazakhstan) informs about investing of funds from IPO on accounts of Alliance Bank JSC

/KASE, September 6, 07/ - Press-service of Financial Corporation Seimar Alliance JSC (Almaty) had spread today the press-release with next contention: quotation begin In connection to query of deputies of Majilis of Parliament of RK to government and National bank about program of preventive measurement to non-admission of banking crisis in the country dated September 5, 2007 Financial Corporation Seimar Alliance JSC (further - SAFC) notifies that. SAFC as responsible participant of financial market of Kazakhstan and main owner of one of system making banks of republic - Alliance Bank JSC (whose assets exceed $10 bn, and shareholders equity makes more than $1 bn. as of July 1, 2007), announces about more than enough money reserves of both Alliance Bank JSC and financial corporation SAFC. As for current date the high liquid assets (including cash money) of Alliance Bank JSC make about $2.8 bn. Short-term assets of Alliance Bank JSC with term of maturity to three months exceed the three months' liabilities more than 1.5 times. At that external loans of Alliance Bank JSC, compulsory to maturity till the end of year 2007 make $406 m., and will be returned in customary order from funds of Bank. Considering the fact that in today situation the most negative influence on Kazakhstan banking system may have the psychological factor and mood of clients, SAFC informs all interested sides about offering of funds from conducted IPO on its accounts in Alliance Bank JSC in order to exclude the possibility of conjectures and speculation about enough liquidity of Alliance Bank JSC as one of Kazakhstan banks. Sum in size of $704 m. was received by SAFC due to selling of 17.4% common shareholders' equity of Alliance Bank JSC on London stock exchange in July 2007 in the frames of conducted IPO. Initially these funds were subjected to financing of strategy of development of SAFC in Russia and number of other countries of CIS. In particular the speech is about conducted during year 2007 negotiations about step by step purchasing of 100% shares of Russian bank Petrokommerts. It was supposed that the given deal would be finished both with own funds of SAFC and the loan capital. However instability on foreign financial markets had caused the difficulties in making of deals with usage of loan capital (LBO or Leverage Buy-out) in world scale and transfer of its terms. Considering the warning from foreign consultants of SAFC about additional risks due to growing uncertainty on developing markets and situation around Kazakhstan banking system, SAFC exited from negotiations about purchasing of shares of Russian bank Petrokommerts and accumulated the free money funds on accounts of Alliance Bank JSC. Assets of Alliance Bank JSC as of end of first half-year of 2007 totaled KZT1.332 tr., having increased since the beginning of years by 45% (by data of consolidated financial statement of bank according to ISFS). Bank if the first half-year of 2007 received net income in size of KZT19.578 bn. compared to KZT1.639 bn. for the same period of year 2006. Bank's income before taxation increased 10.8 times to KZT25.873 bn. Income per one share in the reported period made KZT2.587.94 compared to KZT614.04 for the similar period of year 2006. Shareholders equity of Bank increased since the beginning of year by 70% and had reached KZT136.328 bn., authorized capital increased by 60.6% to KZT96.380 bn. Alliance Bank JSC have the ratings from international rating agencies: - Moody's Investors Service: long-term rating on liabilities in foreign currency - "Ba2", forecast "stable", short-term rating on liabilities in foreign currency - "NP" and rating of financial stability - "Е+", forecast "stable"; - Fitch Ratings: long-term - "BB-" ("BB minus"), short-term - "B", individual - "D" and rating of support - "3". Forecast on long-term rating - "stable". The main shareholder of bank is Kazakhstan investment company Seimar Alliance Financial Corporation JSC - SAFC. After offering of shares of alliance Bank JSC on London stock exchange in July 2007 SAFC owns with 55.5% from all voting shares of bank, other 44.5% belong to minority portfolio investors, stake of each do not exceed 5%. SAFC is the holding managing company, created by investment group Seimar in December of 2006 and owing with control shareholdings (stakes) in daughter companies and banks: Kazakhstan Alliance Bank, Russian Star Bank, financial brokers Alliance finance, Alliance Retail Group and others. On September 4, 2007 international rating agency Moody's Investors Service appointed SAFC, owing with control shareholding of Alliance Bank, with long- term and short-term ratings in foreign and national currencies (Ba3/Not- Prime). Forecast of ratings' changes - "Stable". Press-service of Seimar Alliance Financial Corporation JSC Tel.: 7 (327) 2446800 e-mail: EKoichebaev@seimargroup.kz Quotation end [2007-09-06]