OREANDA-NEWS. February 05, 2010. JSC Alliance Bank (the “Bank”) is very pleased to announce that the Agency of the Republic of Kazakhstan on Regulation and Supervision of the Financial Market and Financial Organisations (the “FMSA”) approved its Restructuring Plan, reported the press-centre of Alliance Bank.

The Restructuring Plan has already been approved by Claimants holding 95.1 percent of the financial indebtedness subject to the restructuring at the Claimants’ Meeting held in Almaty on 15 December 2009. The Restructuring Plan covers over U.S.\\$4.5 billion of the Bank’s financial indebtedness. Pursuant to the terms of the FMSA’s approval, the Bank’s Restructuring must be completed by not later than 15 March 2010.

The Restructuring Plan was submitted to the Specialised Financial Court in Almaty for approval 3 February 2010. A final hearing before the Specialised Financial Court is expected to occur on or about 26 February 2010 and all Claimants are entitled to appear at this hearing. The exact time and date will be confirmed shortly by an announcement on a Regulatory Information Service and on the Bank’s websites at www.albinvestorrelations.com.

The Bank wishes to remind Claimants that Option elections must be submitted by not later than 11:00 am (London time) on 24 February 2010.

Terms used in this press release and defined in the Information Memorandum of the Bank dated 5 November 2009 (as supplemented) are used in this press release as so defined.
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