Alliance Bank (Kazakhstan) receives KZT18 bn. loan to credit small and middle businesses

/KASE, February 17, 09/ - Alliance Bank (Almaty), a company listed on Kazakhstan Stock Exchange (KASE), provided KASE with the press release: Quotation beginning Alliance Bank (LSE:ALLB) announced on signing a General agreement with Fund of national wellbeing Samruk-Kazyna (Fund Samruk-Kazyna) and Fund for business development Damu (Fund Damu), in accordance with which Alliance Bank will receive a USD18 bn. special purpose loan for seven years to credit small and middle businesses. This loan was granted to Alliance Bank within the third tranche of the stabilization program for support of small and middle businesses implemented by Fund Damu. Implementation of the program will allow for cutting costs and enhancing accessibility of credit resources and ease debt load on businesses at the expense of refinancing of the loans received earlier. In February 2009 Funds Samruk-Kazyna and Damu started to organize the third tranche of the stabilization program within which KZT117 bn. will be allocated to support private businesses. Alliance Bank will spend the funds to credit small and middle businesses. The program provides for purposeful use of credit resources: acquisition of new and modernization of current basic funds, refilling of circulating funds and refinancing of the loans received earlier. Acting Chairman of the Alliance Bank Management Board Maksat Kabashev commented: "According to a recent decision of the Government, Alliance Bank is an operator of funds allocated by the state to support small and middle businesses. This is why we will take an active part in implementation of this state initiative". In 2008 Alliance Bank took part in reclaim of funds allocated by Fund Damu within the first two tranches of the program for support of small and middle businesses. Jointly with Fund Damu the bank allocated over KZT6 bn. to finance private businesses operating in production, agriculture, services and trade. According to the program the maximum credit size is KZT750 m., with 12.5 % maximum effective annual percentage rate. At maturity of the main debt grace periods for loans on refilling of circulating funds will apply for up to 6 months, and for other purposes loans - up to one year. For further information, please, contact: Public Relations Tel: +7 (727) 259 80 76 E-mail: pr@alb.kz Web site: www.alb.kz Quotation end [2009-02-17]