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BTA Bank’s Restructuring Proceedings Gain the Protection of the British Courts

22.12.2009

JSC BTA Bank (the “Bank”) is delighted to announce that the restructuring proceedings that have been commenced in respect of the Bank before the Specialised Financial Court in Almaty have been recognised in Great Britain as a foreign main proceeding. This recognition was granted by order of the High Court of Justice of England and Wales on 18 December 2009 pursuant to the UNCITRAL Model Law on cross-border insolvency as set out in the Cross Border Insolvency Regulations 2006.

The consequences of obtaining this recognition are that, in Great Britain:

(i) commencement or continuation of individual actions or individual proceedings concerning the Bank’s assets, rights, obligations or liabilities is stayed;
(ii) execution against the Bank’s assets is stayed; and
(iii) the right to transfer, encumber or otherwise dispose of any assets of the Bank is suspended.

The British recognition will facilitate the execution of the Bank’s restructuring plan, which relates to approximately U.S$12 billion (KZT 1.8 trillion) of the Bank’s financial indebtedness.

The Bank’s management team very much appreciates the strong support shown by the Bank’s creditors during this difficult time and looks forward to the successful completion of the Bank’s restructuring.

The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America. The materials do not constitute an offer of securities for sale in the United States, nor may the securities be offered or sold in the United States absent registration or an exemption from registration as provided in the U.S. Securities Act of 1933, as amended, and the rules and regulations thereunder. There is no intention to register any portion of any offering in the United States of America or to conduct a public offering of securities in the United States of America.

The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of any of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

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About BTA Bank
BTA Group is a leading banking network in the CIS. BTA’s partner bank network extends to Russia, Ukraine, Belarus, Georgia, Armenia, Kyrgyzstan and Turkey. BTA has representative offices in Russia, Ukraine, China and the UAE.
BTA has one of the largest branch networks in Kazakhstan (22 full branches and 231 other service locations) along with an extensive chain of ATMs (921), self-service terminals (160) and POS terminals (1,990). BTA serves about 1.2 million retail and 145,000 corporate customers.

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Media contacts:

Kalamkas Tuleshova

Senior PR Expert /International Activity
PR Department/JSC BTA Bank

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