Sovereign Wealth Fund Samruk-Kazyna (Kazakhstan) reached an agreement with Bulat Utemuratov to sell its shares in Temirbank and part of its shares in Alliance Bank

/KASE, December 12, 13/ – Sovereign Wealth Fund Samruk-Kazyna (Astana), bonds of which are officially listed on Kazakhstan Stock Exchange (KASE), provided today to KASE the following press release: quotation “Samruk- Kazyna” JSC has finalised the negotiations with Bulat Utemuratov on sale of its shares in “Temirbank” JSC and part of the shares belonging to the Fund in “Alliance Bank” JSC. The parties have reached a binding agreement as to the sale and purchase of 79.88 % of the ordinary shares in “Temirbank” JSC and 16 % of the common and preferred shares in “Alliance Bank” JSC. As a result of the transaction, Samruk-Kazyna will remain the controlling shareholder of “Alliance Bank” JSC with 51 % of the common and preferred shares. Both transactions are still subject to approval by the regulatory authorities, which is expected in the first quarter of 2014. The buyer intends to hold meetings and negotiations with creditors of “Temirbank” JSC prior to closing of the transaction and, subsequently, in accordance with the requirements of the relevant legislation, to make an offer to minority shareholders of this financial institution. According to Yelena Bakhmutova, the deputy chairperson of Samruk-Kazyna, this transaction signifies the conclusion of the first part of the President's order to exit the capital of commercial banks, which were managed by the Fund with the purpose to rehabilitate them in the framework of the anti-crisis program. She stated - “Step by step exit of the Fund from the capital of the commercial banks is a logical progression of the anti-crisis measures and will have a positive impact on the financial sector in Kazakhstan”. Bulat Utemuratov noted: “Signing of these agreements is the first step towards the restoration of these two banks. The process of recovery of Temirbank will start immediately after the closing of the transaction. As per Alliance Bank – it will be a joint effort together with Samruk Kazyna and the creditors to determine the path to restore the economic capital, liquidity and profitability of the bank. My team has highly successful experience in the banking sector in Kazakhstan, and I am confident that together with the Fund, we will bring both banks to their appropriate levels”. Public Relations of Sovereign Wealth Fund Samruk-Kazyna: +7 (7172) 55-41-14 ends [2013-12-12]