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Dear Shareholder!

12.03.2009

Hereby BTA Bank JSC (hereinafter referred to as the Bank) kindly notifies you on amendments to the laws of the Republic of Kazakhstan in terms of participating in the capital of second tier banks.

In compliance with clause 5, article 17 of the Law of the Republic of Kazakhstan "On Banks and Banking Activities in the Republic of Kazakhstan" natural persons being participants (shareholders) of legal entities registered in the offshore areas shall not be entitled to directly or indirectly own and (or) use and (or) dispose of voting shares of the banks – residents of the Republic of Kazakhstan.

In accordance with the provisions thereof a shareholder who fails to comply with the requirements as above shall not participate in the general meeting of shareholders.

List of offshore areas is subject to approval by the authorized body. Thus, Regulation # 145 of the Management Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and financial organizations dated October 02, 2008 has considerably extended list of offshore areas from 5 to 43 territories (see attached Regulation).

In accordance with the above Regulation the shareholders of banks registered in the offshore areas shall bring their activities in accordance with the above requirements till April 01, 2009.

In this regard please kindly note that if you are a participant (shareholder) of legal entities registered in the offshore areas you shall bring your activities in accordance with the law requirements till April 01, 2009.


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