Subsidiary Organization JSC VTB Bank (Kazakhstan) announces Board of Directors decisions of June 29, 2011

/KASE, July 7, 11/ - Subsidiary Organization JSC VTB Bank (Kazakhstan) (Almaty, hereinafter - the Bank), whose bonds are officially listed at Kazakhstan Stock Exchange (KASE), has by an official letter informed KASE that on June 29, 2011 its Board of Directors took the following decisions: quote 1. to early terminate powers of member of the Management Board A. Vargas. 2. to appoint A. Vargas the deputy Chairman of Management Board, a member of the Management Board for the term of 1 year, from June 30, 2011 to June 29, 2012. 3. to set the salary of A. Vargas, the deputy Chairman of Management Board, a member of the Management Board at the amount according to Appendix # 1 to the minutes. 4. to appoint the Head of the Risk Department D. Kapysheva the acting member of the Management Board for the term of 1 year, from June 30, 2011 to June 29, 2012, subject to approval by the authorized body during the term set by the legislation of the Republic of Kazakhstan. After approval by the authorized body to consider D. Kapysheva a member of the Bank's Management Board. 5. to set the salary of D. Kapysheva, the acting member of the Management Board, and after approval by the authorized body D. Kapysheva, member of the Bank's Management Board, at the amount according to Appendix # 2 to the minutes. 6. to approve job responsibilities of A. Vargas, the deputy Chairman of Management Board. 7. to approve job responsibilities of D. Kapysheva, member of the Bank's Management Board. 8. to approve the list of persons affiliated to the Bank as of June 1, 2011. With all questions related to the above-mentioned, please contact the corporate secretary of Subsidiary Organization JSC VTB Bank, A. Mustafina tel. +7 727 330-41-34 unquote [2011-07-07]