NATIONAL BANK OF KAZAKHSTAN TO DECREASE REFINANCING RATE TO 10.5% APR

/KASE, June 25, 2008/ - National Bank of Kazakhstan republic disseminated today press release, which informs on changing of official refinancing rate: Quotation start In compliance with the Law of Kazakhstan republic "On National Bank of Republic of Kazakhstan" the Board of On National Bank of Republic of Kazakhstan decided to set official refinancing rate of National Bank of Republic of Kazakhstan on the level of 10.5% APR since July 1, 2008. Decreasing of official refinancing rate should cause decreasing of yield on financial market, what will contribute to supporting of credit activity of bank sector and economic growth. In the second half of year 2008 National Bank expects slowing down of annual inflation, as a result, the level of official refinancing rate will be weak positive in real terms at the end of 2008. Previous meaning of official refinancing rate made 11% APR. Quotation end [2008-06-25]