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JSC "Bank TuranAlem" disproves the information on purchase of 91% of state shares of JSC "United Telecommunications Company of Georgia"

12.02.2007 / Press-service

JSC "Bank TuranAlem" officially states that the information regarding the purchase by the Bank of 91% of state shares of "United Telecommunications Company of Georgia", that appears in mass media, does not represent the facts.

In 2006, BTA granted a loan for participation in auctions held by Ministry for Economic Development of Georgia, which requires a monetary deposit. In this connection, announcement of the purchase of 91% of state shares of "United Telecommunications Company of Georgia" for $90 million USD is incorrect.

JSC "Bank TuranAlem" appeals to all mass media sources to take this fact into account before publication and for firsthand and reliable information to refer to press-service of BTA.

JSC "Bank TuranAlem" (BTA) is the core of the financial group, present in all market segments. BTA is the system-making bank of Kazakhstan and the leader in creation of banking network in the CIS countries. Network of strategic partner-banks expands to Ukraine, 4 regions of Russia, Belarus, Georgia and Armenia. BTA representative offices can be found in China, Kyrgyzstan, Tajikistan and UAE. For the beginning of 2007, BTA's non-consolidated assets exceeded $15 bn USD, while its total equity capital approximates $2 bn USD.