Halyk Savings Bank of Kazakhstan signed the Memorandum of Understanding with the Government of the Republic of Kazakhstan

/KASE, December 15, 08/ - Halyk Savings Bank of Kazakhstan (Almaty), the listed company of Kazakhstan Stock Exchange (KASE), provided to KASE the press release on the following: Quotation start On October 30, 2008, Halyk Savings Bank of Kazakhstan (Halyk Bank or the Bank) in the press release informed on preliminary discussions with the Government of the Republic of Kazakhstan and National Welfare Fund Samruk- Kazyna (Samruk-Kazyna) of the strategic partnership aimed at support of the real sector growth. The Memorandum of Understanding (Memorandum) between the Ministry of Finance on behalf of the Government of the Republic of Kazakhstan, the Agency on Financial Supervision (AFS), the National Bank, Samruk-Kazyna, Halyk Bank and its principal shareholder was signed and dated of December 1, 2008. The Memorandum final implementation requires development and signing of Implementation documents by Samruk-Kazyna, Halyk Bank and its principal shareholder. As mentioned in the Memorandum, the funding amount allocated to Halyk Bank, will make up not les than USD500 m. Samruk-Kazyna will acquire the Bank common shares in the volume of 25 % from the total number of common shares, only after implementation by existing shareholders and depository receipts of their first option rights and with observance of all requirements and procedures, stipulated by the Law "On Joint Stock Companies", Kazakhstan Stock Exchange listing requirements and in compliance with the legislation of the Republic of Kazakhstan, London Stock Exchange listing requirements and international agreements, concluded by Halyk Bank. The amount, a difference between the funding amount and the amount, received by Halyk Bank at the expense of new common shares placement, the bank will raise preferred shares and the subordinated debt as the additional capital. Signed the Memorandum principal shareholder of Halyk Bank will be entitled to buy back Bank shares in Samruk-Kazyna during four years, one year after Implementation documents signing. For detailed information, please contact: Halyk Savings Bank of Kazakhstan Zhanara Aikimbaeva International Relations Director +7 (727) 259 07 96 Assel Atinova Financial Institutions Relations +7 (727) 259 04 30 Quotation end [2008-12-15]