Shareholders of Development Bank of Kazakhstan JSC elected its Board of directors and approved increase of its liabilities for the amount up to $1.0 bn.

/KASE, December 7, 05/ - Development Bank of Kazakhstan JSC (Astana, hereinafter - bank), whose bonds are circulating in the official "A" listing category of Kazakhstan stock exchange (KASE), provided KASE with a copy of the minutes of prescheduled general meeting of its shareholders, which was held on November 28, 2005. According to the meeting's agenda the bank's shareholders approved changes and additions in its charter, and also accepted the following decisions: - to elect the bank's Board of directors with the following members: Chairman - Utembayev Ye.A., members - Aitkenov K.M., Isekeshev A.O., Kulagin S.V., Masimov K.K., Uzbekov G.N., Shalgimbayev K.N.; - to approve decision of the bank's Board of directors dated November 21, 2005 about fixing ratios of the bank's direct liabilities to its own capital in the size 2:1; - to approve decision of the bank's Board of directors dated November 21, 2005 about issue of debt securities in 2006-2011 by EMTN program and about increase of the bank's liabilities for the amount up to USD1.0 bn. (including in 2006 - for he amount not less USD300.0 m.); - to recommend the bank's shareholders - local executive bodies to take measures on its capitalization and to pay the bank's shares in full volume till the end of 2005. The bank's primary activity - rendering of banking services (except attracting of deposits and opening of banking accounts to individuals and legal entities, excluding opening and maintaining of special accounts of conditional deposits, reserve accounts in compliance with agreements on loans that are guaranteed by the government, banking accounts for entering the bank's loans, other loans and funds of the republican and local budgets, with a view to make payments and money remittances, stipulated by agreements, concluded according to investment projects, serviced by the bank and export operations). [2005-12-07]