Subsidiary Bank Sberbank of Russia (Kazakhstan) informed that Moody's Investors Service changed the bank outlook on SB Sberbank's Ba2 local and foreign currency deposit ratings to stable

/KASE, August 13, 10/ - Subsidiary Bank Sberbank of Russia (Almaty), bonds of which are listed on Kazakhstan Stock Exchange (KASE), provided to KASE the following press release: quotation starts Moody's changes outlook on SB Sberbank's ratings to stable The outlook on SB Sberbank's Ba2 local and foreign currency deposit ratings to stable from negative. According to Moody's the change of the outlook on the bank's deposit ratings reflects the stabilization of the bank's credit profile as evidenced by the bank's strengthening franchise with increasing market share in lending and deposit taking, the relatively low level of problem loans, and strong liquidity indicators. Moody's added that the bank's improving earnings along with lower loan loss charges in the near term should ensure it is able to increase its loan book, while maintaining sufficient capital to provide a cushion to absorb the potential risks from this. "This rating, first of all, shows the efficiency and adequate strategy of SB Sberbank of Russia" - said the Bank Board Chairman Oleg Smirnov, - and secondly, the coordinated and professional performance of its team, which achieved good results". The bank's E+ bank financial strength rating (BFSR) remains unchanged with a stable outlook. According to Moody's, SB Sberbank's E+ BFSR, which translates into a Baseline Credit Assessment (BCA) of B2, is underpinned by the bank's strong liquidity, adequate capitalisation and acceptable asset quality. SB Sberbank of Russia Press Service For information Tatyana Shevchenko Tel.: +7 (727) 266-80-79 Mobile: +7 777-618-10-13 e-mail: press@sberbank.kz quotation ends [2010-08-13]