Tsesnabank JSC (Kazakhstan) informs on memorandum on mutual partnership with State Insurance Corporation on export loans and investments insurance JSC

/KASE, June 26, 2008/ - Today, Tsesnabank JSC (Astana) and State Insurance Corporation on export loans and investments insurance JSC (Alamty) disseminated joint press release of the following content: Quotation start June 26, 2008 State Insurance Corporation on export loans and investments insurance JSC and Tsesnabank JSC signed memorandum on mutual partnership. Expanding of volumes, nomenclatures and geography of Kazakhstan goods, services and investments export is an acute objective for enterprises of acute economic sector. State Insurance Corporation on export loans and investments insurance JSC and Tsesnabank JSC realizing the principle of state and private partnership with the aims to support Kazakhstan exporters, signed memorandum on mutual partnership. This document is for creating effective mechanism of parts` collaboration while conducting joint projects on financing and insurance of export contracts of Kazakhstan commodity producers of non primary sector of economic. Further practical partnership will be realized within the frames of General agreement on documentary letter of credit and export contracts insurance, which are financed by Tsesnabank JSC for its clients. "The main objective of this partnership is Tsesnabank JSC and its clients` risks decreasing while conducting export deals and providing safe protection, advancing interests of Tsesnabank`s corporate clients while exporting their products on foreign commodity and capital markets" - Dauren Zhaksybek, the chairman of Board of Tsesnabank JSC marked. Partnership with State Insurance Corporation will allow Tsesnabank JSC to expand the range of service in one of priority direction of trade financing - exporters` financing. Tsesnabank JSC is functioning since January 17, 1992 and is the only commercial bank, which headquarter is in the capital of Kazakhstan - Astana. The bank has 19 branch offices and 59 offices of client servicing in 23 oblast and region centers of Kazakhstan. According to ISFS, as of January 1, 2008 bank's assets exceed $1 bn., shareholders equity makes $140 m. Further development strategy for the bank is to increase market's stake by means of expanding of bank's products range and continual increasing of service quality. State Insurance Corporation on export loans and investments insurance JSC is functioning on market since 2003 and since 2006 enter Group of Companies of FSD Kazyna JSC. As of January 1, 2008 bank's shareholders equity makes $72 m. Corporation is the only specialized insurance company on export loans and investments insurance. Corporation has a right for reinsurance activity. According to Moody's Investor Services (Insurance Financial Strength Rating), the rating of Corporation's financial reliability is "Baa1", forecast on rating is "Stable". Tsesnabank JSC Address: 010000, Astana, 29, Pobeda av. tel.: +7 (7172) 770-770 fax: +7 (7172) 770-195 e-mail: info@tsb.kz; website: www.tsb.kz State Insurance Corporation on export loans and investments insurance JSC Address: 050010, Almaty, 80, Zenkova st. tel.: +7 (727) 250-00-21 fax: +7 (727) 293-88-37 e-mail: info@kecic.kz website: www.kecic.kz Quotation end [2008-06-26]