Information for shareholders

Dear Shareholders

Pursuant to letter No. 04-01-14/1615/8464 of the Agency of the Republic of Kazakhstan for Regulation and Supervision of the Financial Market and Financial Organizations (hereinafter — AFS) of April 29, 2009, we wish to bring the following information to your attention.

Under Clause 5 Article 17 of the Law of the Republic of Kazakhstan «On Banks and Banking Activities in the Republic of Kazakhstan», legal entities registered in offshore zones or having affiliates registered in offshore zones, or private individuals who are members (founders, shareholders) of legal entities registered in offshore zones, a list of whom is established by the authorized agency, may not directly or indirectly own and (or) make use of and (or) dispose of voting shares of resident banks of the Republic of Kazakhstan.

A list of offshore zones for the purposes of banking and insurance activities, the activities of professional securities market participants and other licensed kinds of securities market activities, and the activities of accumulative pension funds and shareholders investment funds was approved by Order of the

Management Board of the AFS No. 145 of October 2, 2008, «On Approval of a List of Offshore Zones for the Purposes of Banking and Insurance Activities, the Activities of Professional Securities Market Participants and Other Licensed Kinds of Securities Market Activities, and the Activities of Accumulative Pension Funds and Shareholders Investment Funds» (hereinafter — the Order).

In accordance with Clause 4 of the Order, shareholders of financial organizations registered in offshore zones were to have brought their activities into compliance with the requirements of the Order by April 1, 2009. In addition, this Order applies to relations that originated before the Order entered into force.

Furthermore, on March 27, 2009, the Order was supplemented by Order of the Management Board of the AFN No. 65 of March 27, 2009, under which legal entities that are shareholders of financial institutions and that have affiliates registered in offshore zones, or private individuals who are shareholders of financial institutions and who are members (founders, shareholders) of legal entities registered in offshore zones established by the Order must bring their activities into compliance with the requirements thereof by October 1, 2009.

Based on the above, we wish to advise shareholders of the Bank of the need to bring their activities into compliance with the aforesaid requirements of banking legislation of the Republic of Kazakhstan and inform you that the above-mentioned letter of the AFN has required the Bank not to admit the following shareholders to the general meeting of the Bank’s shareholders, namely, legal entities registered in offshore zones and/or their affiliates registered in offshore zones or private individuals who are members (founders, shareholders) of legal entities registered in offshore zones after April 1 and October 1, 2009, respectively.

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