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Almaty: Press Release: BTA borrowing plans for 2005

10.01.2005 / Press-service

PRESS-RELEASE 03/12. January 10, 2005

Given the recent various press articles, Bank TuranAlem feels a necessity to outline and clarify its international borrowing plans for 2005. As stated by our late chairman, Mr. Tatishev, in St. Petersburg on December 16, 2004, the Bank intends to borrow up to U.S.$1.5bn in foreign markets through various financial instruments, including Eurobonds, syndicated loans, and a RUR-denominated bond offering. As a result, the Bank's total foreign debt is not expected to exceed a total of U.S.$3bn at the end of 2005. There has been no change in the Bank's foreign borrowing budget or strategy since the announcement in St. Petersburg.

International debt market operations are viewed as a top priority by the Bank. The proceeds from international borrowings are used to fund loans, to support the Bank .s liquidity position, and for general banking purposes.

As announced previously, (press-release #02/12, December 27, 2004), the Bank intends to raise approximately U.S.$200mm through the placement of a new 7 or 10 year USD-denominated senior unsecured Eurobond during the first half of 2005. The Bank has mandated ING and JPMorgan as joint leadmanagers and joint bookrunners for the offering.

For further information contact: Anvar KHALTAYEV, Financial Institutions, tel.: +7 (3272) 505 135, fax: +7 (3272) 505 169, khaltaev@bta.kz


The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the Securities Act), and may not be offered or sold in the United States or to U.S. persons (other than distributors) unless the securities are registered under the Securities Act or an exemption from the registration requirement of the United States Securities Act is available.

This communication is not an offer of securities in the United Kingdom. This communication is directed only at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 (the Order) and (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as relevant persons). The Notes are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such Notes will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

This press release is not a public offer or advertisement of securities in the Republic of Kazakhstan, and is not an offer, or an invitation to make offers, to purchase any securities in the Republic of Kazakhstan.


Some of the information in this press release may contain projections or other forwardlooking statements regarding future events or the future financial performance of Bank TuranAlem, as defined in the safe harbour provisions of the U.S. Private Securities Litigation Reform Act of 1995.

Such forward-looking statements can be identified by the use of forwardlooking terminology such as believes, expects, may, are expected to, intends, will, will continue, should, would be, seeks, approximately, anticipates, or similar expressions or the negative thereof or other variations thereof or comparable terminology. These forward Ѓ]looking statements include all matters that are not historical facts. Bank TuranAlem undertakes no obligation to publicly update or publicly revise any forward Ѓ]looking statement, whether as a result of new information, future events or otherwise.

Regarding BTA borrowing plans for 2005,
please find a copy of Press Release attached (in .pdf, 814kb).