High Court of England rules to block credit balance of M. Ablyazov and other defendants as interlocutory injunction after BTA Bank files an appeal

/KASE, August 27, 09/ - BTA Bank (Almaty), listed on Kazakhstan Stock Exchange (KASE), provided KASE with a press release: Quotation beginning BTA Bank appealed to the High Court of England versus its former chairman of the Board of Directors Mukhtar Ablyazov, former chairman of the management board Roman Solodchenko and former first deputy chairman of the management board Zhaksylyk Zhrimbetov. All three left Kazakhstan and live in the Great Britain. On August 13, 2009 the High Court of England as an interlocutory injunction regarding the bank's appeal ordered to block current balance of Ablyazov, Solodchenko and Zharimbetov, and three British citizens and one company registered in Britain, which, as the Bank deems, aided to former BTA managers. The Order of the High Court is binding to all assets regardless of location. The order is based on evidence of the bank saying the former managers withdrew from BTA around USD300 m, having entered into a number of doubtful deals last year in favor of the company controlled by the former BTA managers. The Bank intends to bring back the money spent in these deals. The Bank is, as well, intending to start further proceedings against fraudulent activities of the former managers. Note: In February 2009 National wellbeing fund Samruk-Kazyna acquired a controlling share in the ailing bank. The acquisition was made to stabilize the Kazakh banking system. After the management had been changed it appeared that former managers had been abusing their power and concluded a number of deals in their interests damaging the bank. BTA Bank is cooperating with international legal firm Lovells and audit company PriceWaterhouseCoopers to bring back the assets. Media contact: Adyl Dossymov, BTA Bank Press Secretary 8 (727) 266-47-97 E-mail: dosymov@bta.kz Quotation end [2009-08-27]