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BTA Publishes Preliminary List of Financial Indebtedness to be Restructured

22.04.2010

JSC BTA Bank (the “Bank”) has published on its website (http://www.bta.kz/en/investor) a preliminary list of its outstanding financial indebtedness to be restructured under its restructuring plan (the “Preliminary Indebtedness List”). The Preliminary Indebtedness List states principal and notional accrued interest due as at 30 June 2010. The Preliminary Indebtedness List was prepared by the Bank following extensive consultation with the relevant creditors and, as a result, the Bank hopes that the amounts set out therein are all agreed.

The publication of this Preliminary Indebtedness List is in accordance with the detailed term sheet between the Bank and the Steering Committee (on behalf of the Bank’s creditors) signed on 18 April 2010 (the “Detailed Term Sheet”).

Please note that the Preliminary Indebtedness List DOES NOT currently include the notional accrued interest due as at 30 June 2010 relating to trade finance claims. The Preliminary Indebtedness List will be updated to include these amounts as soon as they are available. Once available, creditors will be notified that the Preliminary Indebtedness List has been updated.

In addition, the classification of claims contained in the Preliminary Indebtedness List is indicative only. The final classification of claims shall be determined by the adjudicator as described in our press release dated 17 March 2010.

The Preliminary Indebtedness List includes the following:

(i) all financial indebtedness (including contingent indebtedness) which the Bank believes to be subject to the restructuring, specifying in each case the total principal amount outstanding of each debt, as well as a calculation of interest accrued to 30 June 2010 on the basis agreed with the Steering Committee;

(ii) all financial indebtedness which constitutes Direct Official Government Sector Debt (as defined in the Detailed Term Sheet); and

(iii) all financial indebtedness excluded from the restructuring in accordance with the Detailed Term Sheet

but currently EXCLUDES the notional accrued interest due as at 30 June 2010 relating to trade finance indebtedness subject to the restructuring.

Procedure to be followed in relation to any Disputed Amounts

If a creditor wishes to dispute the amount applicable to its claim stated in the Preliminary Indebtedness List or the classification of such claim, it must notify the Bank and provide its own calculations by 28 April 2010 (the "Adjudication Submission Expiry Date"). If a creditor fails to so notify the Bank by this date that it disputes the amount of the claim or the category of debt into which it is classified as stated on the Preliminary Indebtedness List, the amount or classification so stated in the Preliminary Indebtedness List will (except in the case of a manifest error) be deemed to be the amount admitted in relation to the claim or the correct classification as its claim, regardless of anything stated on any subsequent claim form delivered to the Bank.

If a purported creditor does not notify the Bank that its claim does not appear on the Preliminary Indebtedness List by 28 April 2010, any such creditor may nevertheless submit a claim form in respect of its claim but if the Bank disputes such claim and the dispute is not resolved between the Bank and the creditor by 6 May 2010 then that creditor shall not receive any consideration until such time as the dispute is resolved in its favour by Watson, Farley & Williams LLP (the “Supervisor”) or, if the Supervisor is unable to resolve the dispute, an arbitrator nominated by the London Court of International Arbitration.

Any such disputed amounts or classification, if not resolved between the Bank and the creditor within three business days (each a "Disputed Claim") shall be referred to the Supervisor for the purpose of adjudicating the dispute as to quantum or classification by 6 May 2010 (the "Scheduled Supervisor Determination Date").

IN ORDER TO ENSURE THAT THE ADJUDICATION PROCESS IS CONDUCTED IN A TIMELY AND SUCCESSFUL MANNER, IN THE EVENT THAT YOU DISAGREE WITH THE AMOUNT APPLICABLE TO YOUR CLAIM STATED IN THE PRELIMINARY INDEBTEDNESS LIST OR THE CLASSIFICATION OF SUCH CLAIM, YOU ARE ENCOURAGED TO NOTIFY THE BANK AND PROVIDE YOUR OWN CALCULATIONS AS SOON AS POSSIBLE AND IN ANY CASE BEFORE 28 APRIL 2010 IN RELATION TO EACH DISPUTED CLAIM THAT YOU HAVE TOGETHER WITH SUPPORTING DOCUMENTATION.

Once any Disputed Claim is referred to the Supervisor, it shall follow the process set out in the Term Sheet.

The Preliminary Indebtedness List and the Detailed Term Sheet are available on the Bank’s website at http://www.bta.kz/en/investor.