OREANDA-NEWS. On March 31, 2009 Kazkommertsbank (Almaty), the listed company of Kazakhstan Stock Exchange (KASE), provided to KASE the information message on then following, reported the press-centre of KASE:

Joint stock company Kazkommertsbank ("the Bank") hereby announces that on March 30, 2009 the Board of Directors of the bank decided to offer common shares of the Bank with its shareholders to exercise their pre-emptive rights to purchase common shares of the Bank under the following terms and conditions:

Number and type of offered common shares - 325,000,000 common shares.

Ratio of the number of placed common shares (excluding common shares bought back by the Bank) to the number of common shares being offered - 1. 7673455323 ("the k ratio"). The maximum number of shares that can be purchased by existing shareholders is calculated by dividing the number of common shares owned by the shareholder at the record date by the k ratio. If the division results in a fractional number, the integer will be used without taking into account figures after the comma.

Offer price is equal to USD 1.45 per 1 common share and USD 2.9 per 1 global depositary receipt representing two common shares. The offer price is based on the Bank's share price on the London Stock Exchange as at October 24, 2008 following the agreement with the Government of Kazakhstan. The offer price is identical for all persons participating in the offer. Payments for the shares by residents of the Republic of Kazakhstan is fixed in tenge and is calculated based on the exchange rate set by the National Bank on the date of actual settlement for the purchased shares by the shareholder.

List of shareholders, eligible to subscribe for common shares of the Bank exercising their pre-emptive rights is fixed by registrar of the Bank at 00 hours 00 minutes on March 30, 2009.

Period, during which eligible shareholders of the Bank can submit applications to purchase the Bank's shares will commence on the date of publication of this Offer and last 30 calendar days ("the Period") until April 30, 2009 inclusively.

Conditions of the Offer. Offer shares shall be placed among eligible existing shareholders, including holders of GDRs representing the Bank's common shares, appearing in the registrar on the Record Date as well as to JSC National Welfare Fund Samruk-Kazyna ("the Fund") as follows:

1. existing shareholders will have the right to subscribe for pro rata share of the number of offer shares at the price of placement. Processing of submitted applications, settlement and share transfer will be conducted by the Bank after the end of the Period in line with the requirements of the Financial Supervision Agency;

2. after the end of the Period shares from the offer remaining unplaced after execution of pre-emptive rights by existing shareholders, in the number equal to exactly 25 per cent of placed common shares including current Offer will be offered directly to the Fund at the offer price;

3. after placement of the shares among shareholders within pre-emptive rights and sale of the shares to the Fund, the placement within the Offer will be completed. If as a result of such placement part of the common shares is left unplaced, a separate decision on placement of such shares will be made by the Board of Directors.

Presentation of applications by shareholders should be made in the following way:

- holders of common shares shall deliver their applications directly to the Bank (Corporate Secretary of the Bank, Saburova Mayra, phone +7 (727) 2-585-221, e-mail MSaburova@kkb.kz);

- holders of depositary receipts of the Bank shall present their applications via The Bank of New York Mellon for the name of Central Depository via Custodian Bank of the shares. Contact details of JSC Central Depositary of Securities - 291/3, Dostyk ave., 050020 Almaty; phone + 7 (727) 2 66-95-08, 2 66-95-09; Fax: + 7 (727) 2 66-95-01; e-mail CSD@CSD.KZ; Contact   person: Aibol Aliya Narimanovna.

- forms of the application on purchase of shares are placed on the Bank's web-site www.kkb.kz

Notice to shareholders will be published on March 31, 2009 in the Republican newspaper "Kazakhstanskaya Pravda", notifications will be sent to The Bank of New York Mellon, to London Stock Exchange and Kazakh Stock Exchange, and announcement will be placed on corporate web-site of the Bank.