Alliance Bank (Kazakhstan) welcomes Kazakhstan Government offer to become its shareholder

/KASE, October 30, 08/ - Alliance Bank (Almaty), a listing company of Kazakhstan Stock Exchange (KASE), spread a press release dated October 29, 2008: Quotation start Alliance Bank JSC has accepted and welcomes the offer of the Government on measures for financial support of real sector of Kazakhstan economy. The day before Alliance Bank received an official offer from the Government to acquire 25% of the bank's equity capital through the purchase of its ordinary and preferred shares from new issue. Alliance Bank JSC is planning to raise around USD500 million due to the registered and outstanding issue of shares which will be bought out by SamrukKazyna. "At present, the bank has 16.47% of registered outstanding ordinary shares as of the total volume of ordinary shares, and 19.3% of preference shares as of the Bank's capital which we already today may offer to SamrukKazyna fund and issue extra shares afterwards so that SamrukKazyna may finally acquire up to 25% of the voting shares in the bank's share capital," commented Erik Sultankulov, CEO of Alliance Bank. The government will be entering the Bank's equity as strategic investor and partner complying with requirements of laws and rights of other shareholders. "We were pleased to note positive reaction from our Kazakhstani and foreign investors, including minority shareholders on the government's offer. I am confident that state participation will strengthen the trust to Kazakhstan banking system, support real sector of economy and provide lending to companies and population", said the Chairman of the Board of Alliance Bank Erik Sultankulov. "Alliance Bank is intended to participate in all state programs aimed to support domestic economy and SME". As it was announced previously, Government, represented by SamrukKazyna fund of national welfare made offers to four systemic Kazakhstan banks for potential acquiring of stakes with a view to support Kazakhstan banking sector as well as promote stability of lending of the Republic's real sector of economy. Information about Alliance Bank Alliance Bank is currently among five top Kazakhstani banks in terms of asset and equity size. Alliance Bank has been developing as a universal financial institution in all business segments, primarily focusing on retail market including card business and SME lending. Bank is represented by a wide regional network of 21 branches and 177 mini-branches in 64 cities and rural settlements with a customer base over 2 million people. At present, the Bank's ATM network totals 1,232 machines throughout Kazakhstan. Alliance Bank Public Relations Service: +7 (727) 2598076, e-mail: pr@alb.kz www.alb.kz Quotation end [2008-10-30]