Kazkommertsbank (Kazakhstan) ends program for securitization of incoming payments

/KASE, June 12, 09/ - Kazkommertsbank (Almaty), a company listed on Kazakhstan Stock Exchange (KASE), provided KASE with a press release: Quotation beginning Kazkommertsbank, one of the largest banks in Kazakhstan and Central Asia, announces final maturity and, accordingly, the end of the program for securitization of future incoming payments. An originator of the program, Kazkommertsbank initiated and reached an agreement regarding the finish of the program with managing parties (Ambac Assurance Corporation, MBIA Insurance Corporation, Financial Guaranty Insurance Company, Asian Development Bank and WestLB). After the end of the program, its issuer, Kazkommerts DPR Company (SVE, special vehicle enterprise, not a subsidiary of the bank), made voluntary maturity of all obligations on bonds, issued thereby within the frames of the program for securitization of all incoming payments. The principal, redeemed by the SVE on June 11, 2009, reached USD850.4 m. Earlier, on March 16, 2009 the company redeemed USD99.6 m. Initial placement of the bonds under the program for securitization of all incoming payments was conducted in 2005. Bond issues within the program were not guaranteed by the Bank. Individual issues were insured by Ambac Assurance Corporation, MBIA Insurance Corporation, Financial Guaranty Insurance Company and Asian Development Bank. Contact: Aliya Nursipalatova, Investor Relations Tel.: +7 (727) 258-51-25, E-mail: investor_relations@kkb.kz Larissa Kokovinets, Public Relations Tel.: +7 (727) 258-54-56, 258-53-92, E-mail: pr@kkb.kz Merlin +44 20 7653 6620 Paul Farrow +44 7747 607 768 Leonid Fink +44 7939 071 270 Quotation end [2009-06-12]