Alliance Bank Repays USD 150 Million Debut Eurobond Issue

/KASE, June 27, 08/ - Alliance Bank JSC (Almaty), a listing company of Kazakhstan Stock Exchange (KASE), provided KASE with the press release of June 27: Quotation start Almaty, June 27, 2008 - Alliance Bank (LSE: ALLB) announced today that it has fully repaid its three-year debut Eurobond issue for the total amount of USD 150 million. This USD 150 million issue was placed on June 27, 2005 by the Bank at 9% annual rate. The transaction was led by HSBC and JP Morgan acting as Mandated Lead Arrangers. This Eurobond issue was the Bank's debut issue of securities under the first Medium Term Note program with a total value of USD 1.5 billion. In June 2008, the Bank's total foreign debt stood at USD 482 million. This amount was the last large repayment of the Banks' foreign liabilities scheduled in the course of the next two years. This indicates the fact that the Bank has successfully settled the issue of maintenance of high liquidity level for the repayment of foreign liabilities and presently may focus on further business development. As previously announced, Alliance Bank had in total USD 1.022 billion of foreign debt due to be repaid during the course of 2008. As of June 30th, the Bank will have repaid 70% of these liabilities, with payments made on schedule. The remaining part of the Bank's foreign liabilities due by year-end 2008 amount to USD 342 million. The Bank's foreign loan repayment schedule is well distributed for the future years, allowing the Bank to manage its liquidity successfully. Due to an effective business model, Alliance Bank has sufficient liquidity levels to settle all assumed obligations in both this and subsequent years. In 2007, Alliance Bank responded to the turmoil at the global financial markets by tailoring its development strategy to the new tasks solution. The Bank's new strategic purpose aimed to enhance its business efficiency has helped the Bank reach the growth of both the interest and commission income. So, the Bank's proceeds from its cash settlement operations and gains from its trade finance operations for corporate customers as of 1Q2008 grew by 2.5 times as compared to the same period last year and totaled KZT 2,205 million (USD 18,3 million) and KZT 793 million (USD 6,6 million), respectively. For further information please contact: Public Relations Service: Tel. +7 (727) 259 80 76 E-mail: pr@alb.kz Website: www.alb.kz Investor Relations Tel.:+7 (727) 244 84 10 E-mail: InvestorRelations@alb.kz Quotation end [2008-06-27]