Kazkommertsbank (Kazakhstan) announces on results of offering of common shares and end of entry to capital of bank by fund Samruk-Kazyna

/KASE, May 15, 09/ - Kazkommertsbank (Almaty), a company listed on the Kazakhstan Stock Exchange (KASE), informed KASE: Quotation beginning Kazkommertsbank announces on end of offering of 204,338,177 common shares. Offering resulted in authorized capital increasing by KZT44.47 bn. Shares were offered at USD1.45 a share and USD2.9 a GDR (underlying asset of which is 2 common stocks). "It is a good news that the state became our shareholder, since additional capitalization aims to firstly refill necessary volumes of crediting and support stable operation of the bank amidst the global financial crisis", - bank chairman Nina Zhusupova commented. Offering results are as follows: 1. Principal shareholders - Central Asian Investment Company (CAIC), Alnair Capital Holding and Mr. Subhanberdin - refused pre-emptive right; 2. EBRD, which is a strategic partner since 2003, fully used its pre-emptive right and acquired 27,497,588 common shares. 3. Minority shareholders within pre-emptive right acquired 1,618,690 common shares; 4. Holders of global depository receipts, underlying of which is common shares of the bank, within pre-emptive right through The Bank of New York acquired 9,704,658 common shares; 5. Fund Samruk-Kazyna used pre-emptive right and acquired 165,517,241 common shares; 6. 120,661,823 common shares were not offered. The Bank is planning to offer these shares in the nearest time. After offering the line-up of shareholders is the following: ------------------------------------------------------------------------- Shareholder Stake before Stake after offering* offering* ---------------------------------------------- ------------ ----------- Central Asian Investment Company 32.12% 23.7% Alnair Capital Holding 25.15% 18.6% Mr. Subhanberdin 12.62% 9.3% EBRD* 8.46% 9.8% National Wellbeing Fund Samruk-Kazyna - 21.2% Other shareholders (holders of shares and GDR) 21.65% 17.4% Total 100% 100% Total of outstanding common shares 575,000,000 779,338,177 ------------------------------------------------------------------------- * Stakes are directly owned common shares * Since no other large companies participated in offering, the stake of EBRD in shareholder capital of the bank increased from 8.46 % to 9.8 %. Fund Samruk-Kazyna became a shareholder of Kazkommertsbank for a limited term, on the terms, which were specified in agreements with the government, signed at the beginning this year. Fund Samruk-Kazyna shall not interfere into operation of Kazkommersbank. According to these agreements, large shareholder of the bank retained control to the bank, in connection with this Fund Samruk-Kazyna transferred a part its common shares into trust management with voting right. With account to this Alnair will have a vote on 25 % of outstanding common shares, CAIC, EBRD and Mr. Subhanberdin in aggregate will have a right to vote on 50 % of outstanding common shares + 1 share. In connection with rejection of pre-emptive right, principal shareholders (CAIC, Alnair, Mr. Subhanberdin) also received an option to acquire shares of the Fund. Share offering, commenced on March 31, passed in full accordance with the current Kazakhstan legislation, listing requirements of KASE and LSE with account to pre-emptive right of current shareholders and GDR holders, and in compliance with all international agreements concluded by the bank. For further details contact: Aliya Nursipalatova, Financial Institution Department +7 (727) 258-51-25, E-mail: investor_relations@kkb.kz Larissa Kokovinets, Public Relations Head +7 (727) 258-54-56, E-mail: pr@kkb.kz Quotation end [2009-05-15]