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JSC "Bank TuranAlem" Draws Japanese Yen Syndicated Loan for US 500 million

25.04.2007 / Press-service

ING Bank N.V. ("ING"), Standard Chartered Bank ("SCB") and Sumitomo Mitsui Banking Corporation Europe Limited ("SMBCE") are pleased to disclose that the transaction to raise Syndicated Loan in Japanese yens for the amount equivalent to US 500,000,000.00 has been successfully completed, and the relevant agreement has been signed on April 20, 2007. In accordance with the Agreement, TuranAlem Finance B.V. (Netherlands) acts as a Borrower, JSC Bank TuranAlem acts as a Guarantor.

ING Bank N.V. ("ING"), Standard Chartered Bank ("SCB") and Sumitomo Mitsui Banking Corporation Europe Limited ("SMBCE") act as the Authorized Leading Organizers. In the course of syndication ABN Amro Bank N.V. and First Сommercial Bank obtained the status of the Authorized Organizers.

This loan has become the first syndicated loan raised by JSC Bank TuranAlem in Japanese yens. A considerable part of the syndicated loan funds was provided by Asian investors that again evidenced that JSC Bank TuranAlem was recognized both by existing and new creditors of the world banking community. Drawing of the syndicated loan will promote further development of relationships between JSC Bank TuranAlem and Asian banks.

The syndicated loan was drawn on following terms:

Borrower:TuranAlem Finance B.V.
Guarantor:JSC Bank TuranAlem ("BTA")
Loan amount:Amount in Japanese yens equivalent to US 500,000,000.00

Loan term:36 months after signing of the Loan Agreement
Purpose:General corporate purposes, including trade finance
Principal repayment:Lump sum
Margin:0.55% per annum

The Chairman of the Board of JSC Bank TuranAlem Roman Solodchenko made his comments on the transaction: "In light of strong competition in the capital market of Kazakhstan, Bank TuranAlem succeeded in retaining leading positions and high growth paces in 2006. During the year, our Bank has grown into more successful and stable financial institution. We have made a decisive move towards establishment of the bank as the biggest financial institution in CIS. BTA held three debut Eurobond issues in GBP, EUR, and Japanese yens making precedents for the banking systems of Kazakhstan and CIS. Following diversification of investor base, we have successfully completed syndicated loan transaction in Japanese yens. Raising of the loan demonstrated the interest of Asian investors in Kazakhstan market, and owing to this fact we intend to consolidate the reputation of our Bank in this region."

Bank TuranAlem established in 1925 is a biggest private bank in Kazakhstan. BTA provides banking services to corporate customers and natural persons as well as renders other financial services. The Bank’s head office is located in Almaty. BTA assets are nearly US17 billion, the shareholders’ equity exceeds US2.2 billion.

BTA has the following international ratings: Standard & Poor’s – BB, Moody’s – Ba1, Fitch – BB+. In December 2006, Standard & Poor’s and Fitch upgraded BTA forecast from "stable" to "positive".

In July 2006, BTA was awarded by "Euromoney" "The Best Borrower – group of financial institutions – developing markets of Europe 2006." "Euromoney" also recognized BTA "The Best Bank of CIS" and "The Best Bank of Central Asia" in 2005. According to "The Banker," BTA was "The Best Bank of Kazakhstan 2005."

BTA actively collaborates with 650 banks throughout the world including CIS and Baltic countries. More than 50% of international banks have up to 3 year fixed limits worth over US2 billion for collaboration with BTA in the trade finance area. As at December 31, 2006, BTA had 10 representative offices beyond Kazakhstan.

TuranAlem Finance B.V. (Borrower) is a BTA subsidiary. TuranAlem Finance B.V. established in 2001 is an instrument for BTA to borrow funds. The TuranAlem Finance B.V. senior unsecured debt was awarded Baa1 by Moody’s (Forecast: Stable), BB by Standard & Poor’s (Forecast: Stable) and ВВ+ by Fitch (Forecast: Stable).

You may get additional information at the contacts listed below:

INGJana Petkova+44 20 7767 5216
SCBNatalia Sokolova+44 207 280 6023
SMBCNick Vozianov+44 20 7786 1145
BTAGulnara Galyamova+7 327 250 4093

On behalf of Leading Authorized Organizers

ING Bank N.V.

Standard Chartered Bank

Sumitomo Mitsui Banking Corporation Europe Limited