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JSC BTA Bank Signs a Memorandum of Understanding with the Creditors’ Steering Committee to restructure BTA Bank’s Financial Indebtedness

23.09.2009

JSC BTA Bank (“BTA”) announced today that it has entered into a Memorandum of Understanding (“MOU”) with the Creditors’ Steering Committee (the “Steering Committee”) to restructure BTA’s financial indebtedness (the “Restructuring”).

The objective of the Restructuring shall be to satisfy the regulatory capital requirements of the FMSA as of the effective date of the Restructuring.

Pursuant to terms of the MOU, BTA and the Steering Committee have agreed to work in good faith to arrive at agreed terms for the Restructuring following completion of a due diligence exercise to be performed by KPMG and Deloitte on the appropriate level of provisioning on BTA’s loan assets. The MOU is non-binding on any financial creditor and the Restructuring will be subject to certain conditions precedent.

The MOU was developed following meetings that took place in London between BTA’s advisers and the Steering Committee from 14 September to 17 September 2009.

BTA wishes to thank the Steering Committee and all of its creditors for the support and understanding that it has received during this difficult time and looks forward to presenting the options to its financial creditors and completing the Restructuring in the coming months. The MOU and an ancillary Memorandum of Understanding signed between BTA and Samruk-Kazyna National Welfare Fund JSC will be available on BTA’s website: www.bta.kz.

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EDITOR NOTES

About the Steering Committee

The full Steering Committee appointed by BTA is comprised of ABN AMRO Bank N.V., Commerzbank Aktiengesellschaft, the D. E. Shaw group, Euler Hermes Kreditversicherungs AG (acting for and on behalf of the Federal Republic of Germany), Fortis Investment Management UK Limited, Gramercy Advisors LLC, ING Asia Private Bank Limited, JP Morgan Chase Bank, N.A., KfW (representing its affiliates DEG - Deutsche Investitions- und Entwicklungsgesellschaft mbH and KfW IPEX-Bank GmbH), Mediobanca – Banca Di Credito Finanziario S.p.A., Standard Chartered Bank, Export-Import Bank of the United States and Wachovia Bank N.A.

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About BTA Bank

BTA Group is a leading banking network in the CIS. The network of BTA’s partner banks extends to Russia, Ukraine, Belarus, Georgia, Armenia, Kyrgyzstan and Turkey. BTA’s representative offices operate in Russia, Ukraine, China, and UAE.

The bank has one of the largest branch networks in Kazakhstan (22 branches with 269 service locations) along with an extensive chain of ATMs (864) and self-service terminals (160). BTA serves about 1.2 million retail and 132,000 corporate customers.

Media contacts:

Kalamkas Tuleshova
BTA Bank, Brand Office
International PR Activity

Tel.: +7 (727) 266-47-99
Fax. +7 (727) 250-12-55
Email: tuleshova@bta.kz