Kazkommertsbank (Kazakhstan) signed the documents package on implementation of the Memorandum of Understanding with National Welfare Fund Samruk-Kazyna

/KASE, January 15, 09/ - Kazkommertsbank (Almaty), the listed company of Kazakhstan Stock Exchange (KASE), disseminated the press release of January 15, 2009 on the following: Quotation start Kazkommertsbank informs on signing today by the bank, its principal shareholders and Fund Samruk-Kazyna of agreements package on implementation of the Memorandum of Understanding, signed on December 9, 2008 and reflecting its main terms of Kazkommertsbank participation in events on support of needed volumes of the real sector crediting. The parties of signed agreements are National Welfare Fund Samruk-Kazyna (Fund), Kazkommertsbank and its principal shareholders, including Central-Asian Investment Company (CAIC), Alnair Capital Holding (Alnair) and Mr. Subkhanberdin in the aggregate holding 69.89% offered common shares of the Bank. The implementation package of documents includes the Implementation Agreement, regulating the order and terms of Fund inclusion into the bank shareholders composition, the Agreement between shareholders, establishing the order of shareholders and the bank interaction during Fund participation in shareholders composition, and the Option Contract, regulating the order and terms of Fund withdrawal from the bank capital. In compliance with signed agreements parties intend to implement stipulated by the Memorandum of Understanding measures on stabilizing the economy and the bank authorized capital increase through shares offering that will allow providing to the economy real sector additional funds and facilitating the financial system stability. The total volume of funds, provided by Samruk-Kazyna to the bank within the Memorandum will make up not les than 300 (three hundred) US dollars. The bank shares will be offered in the full volume in compliance with the effective legislation of the Republic of Kazakhstan, Kazakhstan and London Stock Exchanges listing requirements with observance of the first option for the existing shareholders and GDR holders of the bank, and with observance of all signed by the bank international agreements. Within acquisition of the bank shares Samruk-Kazyna stake will make up 25% from the total number of the bank offered common share, and existing shareholders of the bank (CAIC, Alnair, Mr. Subkhanberdin and EBRD) will retain the control over the bank. Samruk-Kazyna will not interfere into Kazkommertsbank operational activities. Due to the refusal of the first option of the bank shares purchasing, principal shareholders (CAIC, Alnair, Mr. Subkhanberdin and EBRD) receives the option for purchasing of owned by Samruk-Kazyna shares during four years, beginning upon one year expiry from the implementation documents signing date. For contacts: Aliya Nursipatova Financial Institutions Department +7 (727) 258-51-2 E-mail: investor_relations@kkb.kz Larissa Kokovinets director, Public Relations Department +7 (727) 258-54-56 E-mail: pr@kkb.kz Quotation end [2009-01-15]