Subsidiary Organization JSC VTB Bank (Kazakhstan) announces May 20, 2011 decisions of its Board of Directors

/KASE, May 30, 11/ - Subsidiary Organization JSC VTB Bank (Kazakhstan) (Almaty, hereinafter - the Bank), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has by an official letter informed KASE that on May 20, 2011 its Board of Directors took the following decisions: quote 1. On approval of setting the financing limit for an LLP at not more than KZT1,383,390,000 (one billion three hundred eighty three million three hundred ninety thousand) which is equivalent to USD9,500,000 (nine million five hundred thousand). 2. On signing two Fee Letters with two legal entities related by special relationship with the Bank. 3. On signing a service agreement with a legal entity related by special relationship with the Bank. 4. On approval of the register of persons related by special relationship with the Bank. 5. On setting up branches in the cities of Semey, Kostanai, Taraz, Shymkent and on opening an additional space in the branch of SO VTB Bank (Kazakhstan) in Astana. 6. On placement of additionally authorized shares of the Bank, whose issue was registered by the National Bank of the Republic of Kazakhstan on April 19, 2011 under #А5706, within the number of authorized shares, under the following terms: - type of shares being placed - common; - number of shares being placed - 1,100,000 units; - offered price - KZT10,000 per common share; - offering method - by way of announcing subscription on the unorganized stock market in accordance with the legislation of the Republic of Kazakhstan. 7. On approval of setting the financing limit for a group of companies at not more than KZT934,150,400 (nine hundred thirty four million one hundred fifty thousand and four hundred) which is equivalent to USD 6,430,000 (six million four hundred thirty thousand). With related inquiries please turn to A. Mustafin, Corporate Secretary of SO VTB Bank (Kazakhstan) on tel. +7 727 330-41-34 unquote [2011-05-30]