REFERENCE: Development Bank of Kazakhstan CJSC - general information, licenses, history, management

/IRBIS, information of the KASE Listing commission, Feb 20, 02/ - The following information is published due to the admittance of the first issue indexed inscribed coupon bonds of Development Bank of Kazakhstan CJSC into official list of the Kazakhstan Stock Exchange (KASE) under category "A". GENERAL INFORMATION Date of initial state registration - May 31, 2001. Legal status - closed joint stock company. Primary activities - banking services. The legal address: 33, Pobeda Ave., Astana, 473000, Kazakhstan. Actual address: microdisctrict Samal 12, ASTANA TOWER, office 18-I, Astana, 473000, Kazakhstan. Tel.: (8-3172) 580260, fax: 580269. Email: info@kdb.kz. LICENSES Development Bank of Kazakhstan CJSC has a license #235 issued by the National Bank of Kazakhstan on October 12, 2001 to conduct banking operations in tenge and foreign currency, including: trust operations - managing the money and securities in the interest of and upon the trust of the trustee; opening and confirming the letter of credit and meeting its obligations, as well as other operations set in the banking legislature, including leasing. Based on the law of Kazakhstan #178-II of April 25, 2001 "On the Development Bank of Kazakhstan", the bank has the right to conduct following activities without obtaining the license of the National Bank of Kazakhstan: - granting credits and issuing guarantees to legal entities, excluding the banks of second tier, credit partnerships, state pension funds, pension assets management companies, investment funds, insurance companies and lessors, as well as excluding issuance of guarantees on the obligations of these institutions; - opening and maintaining special accounts of conditional deposits, as well as reserve accounts according to the agreements on loans guaranteed by the state; - opening and maintaining banking accounts to serve investment projects, financed through the funds of the national and local budgets; - fulfilling the orders of the bank borrowers on money transfer (transfer operations); - settlements upon the request of the bank borrowers, as well as correspondent banks on their bank accounts; - receipt of payment documents (except for bills) in favor of the borrower; - issue of debt securities; - renting its own property; - dealing activities with government securities, as well as other securities in cases specified by the banking law of Kazakhstan. The bank has no rights to attract deposits, open banking accounts to individuals and legal entities, except for the cases of opening and maintaining accounts of conditional deposits, reserve accounts in compliance with the agreements on loans guaranteed by the state, as well as on serving investment projects, financed through the funds of the national and local budgets. HISTORY The bank was established on April 25, 2001 based on the Decree #531 of the president of Kazakhstan, dated December 28, 2001 "On Development Bank of Kazakhstan" and according to the resolution #659 of the Government of Kazakhstan, dated May 18, 2001 "On establishing closed joint stock company Development Bank of Kazakhstan as a joint stock company with 100% state stake in authorized capital of the bank". The founders of the bank: Government of Kazakhstan represented by the Ministry of Finance of Kazakhstan with the stake in the bank's authorized capital at 75% and local executive bodies (akimats of 14 regions and Astana and Almaty), whose total stake reaches 25% (1.5625% for each). The purpose of foundation of this bank is the perfection and increasing the effectiveness of the state investing activities, development of the production infrastructure and processing industries, assistance in attracting external and internal investments and solving the problems, satisfy the needs of real sector of the economy in mid- and long-tem investing. Development Bank of Kazakhstan CJSC has established correspondent relations with following banks of Kazakhstan: KAZKOMMERTSBANK OJSC, Bank TuranAlem OJSC, Halyk Bank of Kazakhstan OJSC, as well as with a number of foreign banks: ING Barings (Amsterdam), Commerzbank AG (Frankfurt), Commerzbank AG (London), Citibank (New York), Deutsche Bank (New York). In order to acquire international expertise, receive consultations and exchange the information, Development Bank of Kazakhstan CJSC is building a partnership relations with the International Monetary Fund, World Bank and European Bank for Reconstruction and Development. According to the law of Kazakhstan, the bank has the right to hold stakes in authorized capitals of legal entities only in case it imposes penalty on the stakes or shares of legal entities which were previously recorded as the collateral by the bank for further sales. Now, Development Bank of Kazakhstan CJSC is conducting talks about getting credit ratings with rating agencies Standard & Poor's and Fitch Ratings. Due to a special status of the bank, it plans to receive short- and long-term ratings from these agencies in 2002. MANAGEMENT OF THE BANK Members of the Board of directors Dosaev Erbolat Askarbekovich: chairman of the Board of directors, from November 28, 2001 to present - chairman of the Natural Monopoly Regulation, Competition Protection and Small Business Support Agency of Kazakhstan; Beisembetov Iskander Kalykbekovich: from October 2001 to present - chairman of the Strategic Planning Agency of Kazakhstan; Daukeev Serikbek Jusupbekovich: from February 2000 to present - akim of Atyrau region; Khrapunov Viktor Vyacheslavovich: last 3 years - akim of Almaty; Dunaev Arman Askarovich: from May 2001 to present - vice-minister of Ministry of Finance of Kazakhstan; Andryushenko Aleksandr Ivanovich: from January 2001 to present - vice- minister of the Ministry of Economy and Trade of Kazakhstan; Mynbaev Sauat Mukhambetovich: from May 2001 to present - president of Development Bank of Kazakhstan CJSC. Top management of the bank Mynbaev Sauat Mukhambetovich - president, acting sole executive body of Development Bank of Kazakhstan CJSC, from July 1999 to May 2001 the minister of Agriculture of Kazakhstan. Kudyshev Murat Tishbekovich - vice-president from June 2001, from November 1997 to June 2001 the deputy chairman of the National Bank of Kazakhstan. Jakselekov Timur Ermekovich - vice-president from June 2001, till now - deputy chairman of Eximbank of Kazakhstan CJSC (Almaty). Sartbaev Medet Maksutovich - vice-president from June 2001, from August 2000 to June 2001 deputy chairman of Halyk Bank of Kazakhstan (Almaty). Balalanov Erik Jumakhanovich - managing director from July 2001, from December 2000 to July 2001 chairman of Almaty Merchant Bank OJSC. Jumagulov Baurjan Kusainovich - managing director from June 2001, from March 2001 to June 2001 director of the department of Natural Monopoly Regulation, Competition Protection and Small Business Support Agency of Kazakhstan. Orynbekov Kanat Zeifoldanovich - chief accountant - director of accounting department from June 2001, from May 2001 to June 2001 worked at PricewaterhouseCoopers branch office.