Kazakhtelecom (Kazakhstan), Bank of China and Huawei Technologies sign three-side memo

/KASE, April 16, 09/ - Kazakhtelecom (Astana), a company listed on Kazakhstan Stock Exchange (KASE), provided KASE with a press release: Quotation beginning Kazakhtelecom, Bank of China and Huawei Technologies signed a three- side Memorandum of understanding for financing of prospect Kazakhstan telecommunications development projects. On April 15, 2009 in Beijing (CPR) Kazakhtelecom, Bank of China and Huawei Technologies signed a three-side Memorandum of understanding. A corresponding document was signed by Chairman of Kazakhtelecom Askar Zhumagaliev, deputy General Manager for corporate banking of Bank of China Tang Maoheng and Huawei Technologies Vice-president Vu Zhuo. The Memorandum aims to create preliminary conditions for implementation of large scale financing by Chinese financial institution for prospect telecommunications projects in Kazakhstan, with Kazakhtelecom and Huawei Technologies participating. According to Chairman of Kazakhtelecom Askar Zhumagaliev, the main projects where Kazakhtelecom may use Huawei Technologies equipment are concerned with further development of WLL CDMA based fixed radio access networks, and ADSL2+ based Internet broadband access networks. Deputy General Manager for corporate banking of Bank of China Tang Maoheng, said "the bank is pleased to welcome a reliable client Kazakhtelecom". He said signing of this agreement and close cooperation with Kazakhtelecom - a leading Kazakhstan telecommunications operator, will enlarge export crediting work areas of Bank of China, and create new impulse for fast developing Kazakhstan telecommunications sector. Huawei Technologies Vice-president Vu Zhuo remarked "by signing the memorandum the company shows it is ready to discuss prospect projects on development of Kazakhtelecom's digital networks and desire to actively participate therein, providing cutting edge decisions, technologies and professional business consulting". Reference Bank of China Limited - one of four state-owned commercial banks. The bank is a leader in commercial banking, investment and insurance business. The bank was ranked 18th on the list of 1000 global banks regarding tier one capital according to The Banker magazine in 2005. According to results of 2008 the Bank of China is the fourth bank regarding market capitalization worldwide. The Bank is operating in five continents and 28 countries, including Kazakhstan. Huawei Technologies - a worldwide leading supplier of new generation telecommunications network, which, currently, is servicing 35 of 50 leading global operators, with one billion users globally. The company has 8 regional units and 100 branches around the world. Ten CIS countries have 24 Huawei Technologies offices. The company is a long-term partner of Kazakhtelecom aiding to improve rural telecommunications and construct networks connections with largest CPR's operators. Kazakhtelecom is a Kazakhstan national telecommunications operator and fast developing telecommunications company, providing wide range of information and communications services. 51 % share of Kazakhtelecom is held by the state represented by National wellbeing fund Samruk-Kazyna. The headquarters is located in the Kazakhstan capital Astana. The company employs 30,000 people. Kazakhtelecom has regional units in every part of the country and provides telecommunications services through the country. As on January 1, 2009 the company was servicing over 3.333 m. fixed line subscribers. Kazakhstan provides 21.4 fixed lines for 100 people. Kazakhtelecom is in close cooperation with over 40 abroad operators. The company is implementing a number of large infrastructure projects, modernization and telecommunications digitalization, introducing new technologies and improving telecommunications in rural area and developing broad band access to the Internet. Public Relations Kazakhtelecom JSC Quotation end [2009-04-16]