Bank TuranAlem JSC (Kazakhstan) expands cooperation with Agip KCO

/KASE, March 10, 06/ - Press-service of Bank TuranAlem JSC (Almaty) today spread press-release saying: Quotation start The bank's delegation, headed by Saduakas Mameshtegi chairman of the bank's executive committee, and Agip KCO, headed by Stefano Goberti director of finance, taxes and control, met for discussing problems of North- Caspian project development, achieved results and perspectives of further cooperation. According to results of the meeting it was decided to hold a forum on financing contractors of Agip KCO in May of 2006. The sides marked growth of treasury operations volume through Internet banking system of bank TuranAlem, which BTA's specialists had set in Agip KCO before. There was achieved agreement on receipt of direct guarantees of Bank TuranAlem. Before BTA opened a cash-settlement office and set cash dispensers in Bautino settlement - Agip KCO's sea operations support base. Wage project is being realized successfully, there has been developed a housing crediting program for Agip KCO's employees. Bank TuranAlem JSC - backbone bank of Kazakhstan and leader on creation of banking net in CIS countries. BTA's assets exceed $6.1 bn., total shareholders equity of the bank exceeds $643 m. Shareholders of one of the first international banks in Kazakhstan consist of big financial institutes of the world. Bank TuranAlem JSC confidentially holds leading position in Kazakhstan among commercial banks in the field of trade financing, crediting of SMB and mortgage crediting. Strategic development of Bank TuranAlem stipulates for geographic diversification and expansion of banking products range, and also stable dynamic growth. Agip KCO (Agip Kazakhstan Caspian Operating company) is among group of ENI companies and works on behalf of seven international partners (ENI- Agip Caspian Sea, KazMunayGas, Inpex, ExonMobil, Phillips Petroleum, Shell, TotalfinaElf). At present it is the single operator, making estimating and exploration works in Kazakhstan sector of Caspian Sea on the Production sharing agreement on northern Caspian sea, signed by the Republic of Kazakhstan. To contact mass media: Valentina Vladimirskaya, press-secretary of Bank TuranAlem JSC 8 (3272) 505-464, press@bta.kz Quotation end [2006-03-10]