OREANDA-NEWS. September 24, 2009. JSC BTA Bank (“BTA”) announced 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.