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Information for the shareholders of BTA Bank JSC

28.01.2009

Dear Shareholders!

I. Please be kindly informed that in compliance with part 1 clause 5 article 17 of the Law of the Republic of Kazakhstan "On Banks and Banking Activities in the Republic of Kazakhstan" dated August 31, 1995, legal entities registered in the offshore areas or having affiliated entities registered in the offshore areas or individuals being participants (shareholders) of legal entities registered in the offshore areas which are specified by the authorized body shall not directly or indirectly own and (or) use and (or) dispose of voting shares of the banks – residents of the Republic of Kazakhstan.

In this regard please be kindly advised that the list of offshore areas as have been determined before by the authorized body* is abolished.

New list of offshore areas was approved by the Regulation # № 145 "On approval of the list of offshore areas for the purposes of banking and insurance activities, activities of professional participants of security market and other types of activities in the security market to be licensed, activities of savings pension funds and incorporated investment funds" dated October 02, 2008 of the Management Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and financial organizations and is attached in Appendix No.1 hereto. We also draw your kind attention to the fact that in accordance with clause 4 of the Regulation as above, the shareholders of financial institutions registered in the offshore areas shall bring their activities in accordance with the above requirements till April 01, 2009.



II. Besides, article 17 of the Law of the Republic of Kazakhstan "On Banks and Banking Activities in the Republic of Kazakhstan" was supplemented** by clause 5-1 as follows:

"5-1. a shareholder participating in the general meeting of shareholders shall produce application stating performance of requirements of part one clause 5 hereof by his/her shareholders (participants) in case information on the country of registration for such shareholders (participants) is not available in the bank.
A shareholder who failed to produce such application shall not participate in the general meeting of the shareholders.

In case inadequate information is detected in the application or requirement of part one clause 5 hereof is violated:
1) in case majority of voting shares votes for the issue (not subject to voting shares of the shareholder to produce the application) the decision of the general meeting of shareholders shall be taken not subject to the votes of such shareholder;
2) in case vote of the shareholder to produce the application is the casting one, the decision of the general meeting of shareholders shall be considered null and void as required by the authorized body or other interested parties in the procedure as stipulated by the laws of the Republic of Kazakhstan".

In consideration of the above we kindly ask you to check compliance to the requirements of part 1 clause 5 article 17 of the Law of the Republic of Kazakhstan "On Banks and Banking Activities in the Republic of Kazakhstan" and confirm such compliance by producing the application in the form of Appendix No.2 hereto at the general meeting of the Republic of Kazakhstan. The date of application shall be not earlier the date of the general meeting of shareholders of BTA Bank JSC.

*List of offshore areas was previously approved by the Regulation # № 230 "On approval of the list of offshore areas for the purposes of banking and insurance activities, activities of professional participants of security market and other types of activities in the security market to be licensed, activities of savings pension funds and incorporated investment funds" dated June 25, 2005 of the Management Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and financial organizations.

**is supplemented in compliance with the Law of the Republic of Kazakhstan "On introducing amendments and supplements to some legislative acts of the Republic of Kazakhstan on the issues of financial system sustainability" dated October 23, 2008.