OREANDA-NEWS. JSC Alliance Bank (the “Bank”) is pleased to announce that it will be holding a meeting of certain of its financial creditors on 15 December 2009 to approve the Bank’s Restructuring Plan, reported the press-centre of Alliance Bank.

The Bank published an Information Memorandum dated 5 November 2009 which contains detailed information about the Restructuring Plan as well as information as to the procedures for creditors to vote on the Restructuring Plan and submit claims subject to it.

The Information Memorandum is available (subject to certain restrictions) on the Bank’s websites at www.albinvestorrelations.com and www.alb.kz.

The Restructuring Plan requires the approval of creditors holding two-thirds of the indebtedness subject to restructuring. The Bank has also issued notices of meetings of holders of Eurobonds issued by the Bank’s subsidiary, ALB Finance B.V., to be held on 27 November 2009.

Euronoteholders will be asked to pass extraordinary resolutions to approve the Restructuring Plan and instruct the Trustee to vote on their behalf at the Creditors’ Meeting. Instructions as to participation in these meetings and in the Creditors’ Meeting currently scheduled to be held on 15 December 2009 are set out in the Information Memorandum.

Under the Restructuring Plan, the claims of certain of the Bank’s financial creditors will be cancelled or restructured, in consideration for which such creditors will receive cash and/or new securities of the Bank. Details of the terms of the new securities are contained in the Information Memorandum.

Further to the Bank’s press release of 5 November 2009, creditors of the Bank who believe that their claims constitute “Trade Finance Debt” (as defined in the Information Memorandum) may submit their claims and all pertinent evidence for adjudication to the Bank with a copy to the adjudicator, Watson, Farley & Williams LLP, by email at albadjudication@wfw.com. All claims purporting to be Trade Finance Debt must be submitted by 26 November 2009. The precise details of the Trade Finance Debt adjudication process, as well as the treatment of Trade Finance Debt, are contained in the Information Memorandum.

Creditors of the Bank are advised that the Restructuring Plan as set out in the Information Memorandum and the terms and conditions of the new notes are different in some respects from the plan envisaged by the non-binding Term Sheet entered into on 5 October 2009 between the Bank and the Creditors’ Steering Committee.

Creditors should base their decisions in relation to the Restructuring Plan on the Information Memorandum and not the Term Sheet.

None of the Bank’s legal, financial or tax advisers, the members of the Creditors’ Steering Committee, the Creditors’ Steering Committee’s legal, financial or tax advisers, the trustee or the trustee’s legal advisors have verified that the information contained in the Information Memorandum is in accordance with the facts and does not omit anything likely to affect the import of such information and each of those persons expressly disclaims any responsibility for such information. No member of the Creditors’ Steering Committee expresses any opinion as to the merits of the Restructuring Plan.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.

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 the 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 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.