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Standard and Poor’s confirmed BTA’s rating of BB/Stable/B

04.07.2006 / Press-service

International rating agency Standard&Poor’s confirmed Bank TuranAlem’s rating of BB/Stable/B in relation to agreement of subsidiary company

JSC "TuranAlem Securities" is a subsidiary company of BTA signed an agreement with representatives of Sekerbank S.A. on purchase of 33.98% of shares from shareholders group of Bank TuranAlem.

It is expected that the ownership transaction will be completed by 31 October. The sum of the purchase made USD 256 million. 3.4% of acquired shares will be paid for by TuranAlem Securities from own resources.

The purchase of shares was realized for investing of non-banking income. BTA shareholders consider Turkish banking system and business community to be of strategic interest and allow diversifying income sources. Entrance to Turkish financial market is timely for Kazakhstan as well.

JSC "Bank TuranAlem" – the system-making bank of Kazakhstan, the leader in creation of banking network on the territory of CIS. Bank’s assets exceed $9.2 billion; equity capital exceeds $1.6 billion. Bank’s shareholders are the world largest institutions such as EBRD, RZB, IFC and FMO. In Kazakhstan the Bank confidently holds the leading position among the second-tier banks in the field of trade financing, SME loans and mortgage lending. Bank’s development strategy includes geographical diversification and the expansion of the range of provided services, as well as stable dynamic growth.