Alliance Bank (Kazakhstan) to form coordination committee to talk to creditors within a plan to restructure and recapitalize the bank

/KASE, May 4, 09/ - Alliance Bank (Almaty), a company listed on the Kazakhstan Stock Exchange (KASE), provided KASE with a press release: Quotation beginning Alliance Bank is happy to inform that according to preliminary consultations with creditors on bilateral and syndicated loans a Coordiantion Committee is being formed for negotiations within a plan to restructure and recapitalize the bank. The Committee will include seven international banks representing over sixty creditors of the bank. Creditors confirmed they are ready to talk with the management and shareholders of the bank and make a long term decision within the plan for restructuring and recapitalization. Creditors said that an essential condition for successful restructuring of Alliance Bank's debt is support of the National wellbeing fund Samruk-Kazyna and the Agency of the Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Organizations (AFS), along with preservation of the current management system. Earlier AFS urged Alliance Bank to contact creditors and agree on the plan for restructuring and recapitalization and present the plan to the AFS within the following three months. In addition creditors required additional information on upcoming revaluation of assets and nature of transactions leading to the revaluation. Creditors plan the next meeting in May 2009. The parties will discuss preliminary results of bank loan portfolio audit, which will be performed by an international audit company recently appointed by the Bank. Alliance Bank is satisfied with the progress it made and intends to continue inform its clients and investors on restructuring of bank debt. For details, please, contact: Public Relations Tel. +7 (727) 258 40 40 E-mail: pr@alb.kz Website: www.alb.kz Quotation end [2009-05-04]