M. Kabashev was assigned as Alliance Bank (Kazakhstan) Board Chairman

/KASE, February 6, 09/ - Alliance Bank (Almaty), the listed company of Kazakhstan Stock Exchange (KASE), informed KASE that by the decision of Alliance Bank Board of Directors of February 5, 2009, Maksat Kabashev was assigned as the bank Board Chairman. Previously he was the Board Chairman of Distressed assets fund. The decision on changing the head of Board of Directors was made considering the need in solution of new objectives of the bank under the world crisis. Alliance Bank will play an active role in implementation of anti-crisis measures of the Government of the Republic of Kazakhstan. The bank will become the key operator when using government funds, allocated for support of small and medium size businesses, including the agricultural sector. Also, Kadyrzhan Damitov was assigned as the bank Chairman advisor. He previously headed the National Bank of the Republic of Kazakhstan and was the President advisor on economic issues. As informed previously, on February 2, 2009, the Financial Corporation Seimar- Alliance decided to sell holds by it 76% from the total number of voting shares of the bank to Samruk-Kazyna. Samruk-Kazyna and Alliance Bank signed the bank deposit agreement for placement in the bank of a deposit in the amount of KZT24 bn. to support its financial sustainability and further capitalization. [2009-02-06]