Shareholders of SB Sberbank JSC (Kazakhstan) approved the annual financial statement and decided not to pay dividends for 2007

/IRBIS, Natalya Vaguina, June 3, 08/ - Subsidiary Bank Joint Stock Company Sberbank of Russia (SB Sberbank JSC, Almaty, hereinafter - the bank), bonds of which are traded in the Kazakhstan Stock Exchange (KASE) category "A" official list, provided KASE with protocol of annual general meeting of bank's shareholders, dated May 27, 2008. According to provided document, shareholders of the bank made the following decisions: - approve the financial statement of the bank and audit statement for 2007; - to approve the following procedure of net income distribution for 2007: - to direct to reserve capital of the bank the sum in amount of KZT647,655 th.; - to retain surplus of undistributed net income after forming of reserve capital on account of undistributed income of last years; - do not pay dividends to shareholders of the bank for 2007; - to delegate Board of the bank the authority to accept decision on increasing of reserve capital at the expense of undistributed income of last years independently; - to take into consideration appeals of shareholders on bank's activity and its officials, results of examination admit as satisfactory; - to determine PriceWaterHouseCoopers LLP as the auditor company, to audit the bank in 2008; - to prolong the term of bank's Board of Directors authorities in the staff, elected on repeated extraordinary meeting of shareholders, dated December 26, 2007 till next annual general meeting of bank's shareholders; - to approve changes and additions in Resolution of bank's Board of directors. [2008-06-03]