OREANDA-NEWS. May 28, 2007.
Address of the Bank: 135zh Gagarin st. Almaty, Kazakhstan
Date: May 18, 2007.
Time: 1500 hours

Present shareholders and shareholders representatives:
A.Shayahmetov Representative of Central Asian Investment company 184 679 013 shares
A.Mukazhanova Proxy of Mr. Subhanberdin 72 570 672 shares
T.Tyo Representative of EBRD 48 597 741 shares
Kotov М. Representative of “Pension fund of Halyk Bank of Kazakhstan” 487 665 shares
Ryspayeva Zh. Representative of The Bank of New York, voting in the name of 50 GDR holders
underlying asset for which are common shares of the Bank 12 383 670 shares
Ryspayeva Zh. Representative of “Zhalyn Ltd” 563 743 shares
I.F.Halitov Shareholder 3 000 shares, reported the press-centre of  Kazkommertsbank JSC.

From the side of Kazkommertsbank:
Managing Director
Deputy Chief Accountant
Leading Legal consultant
Corporate secretary
Nabiyev A.R.
Maketaev N.А.
Ryspayeva Zh.
Mukhamedyarova А.А.

Total number of voting shares: 328 257 370
On the Annual general meeting were present shareholders and their representatives owning 319 285 504 voting shares of the Bank (97,2668 % from total number of voting shares).

The powers of attorney of representatives of shareholders are duly authenticated.

Agenda:
1. On the Bank’s Management Board report on the results of Bank’s activities in 2006.
2. On the approval of the 2006 audited annual financial statements of The Bank.
3. On the net profit distribution for 2006 and the size of reserve capital allocation of The Bank.
4. On the dividends after the results of 2006.
5. On the Bank’s Board of Directors fees approval.
6. On the Bank’s external auditor approval.
7. On the Bank’s Corporate Management Code approval taking into consideration changes and add-ins #1.
8. On changes and add-ins to the Bank’s financial statements for the years 2003, 2004 and 2005.
9. On the election of the Bank’s Board of Directors member and determination of amount and payment conditions as to the Bank’s Board of Directors independent member.
10. On the consideration of shareholders appeals to The Bank’s and its authorities actions and the results of this consideration.
11. On the informing the shareholders about the amounts and structure of the Bank’s Board of Directors and Executive Board fees.

Progress of the meeting:
Ms.Mukhamedyarova announced that shareholders meeting is accepted as law competent, in accordance with item #45 of the law “On Joint stock companies” and proposed to assign Mr.Shayakhmetov as chairman of the meeting.
Mr. Shayakhmetov proposed to assign Ms. Mukhamedyarova as secretary of the General meeting, and as well returning board of the meeting in accordance with paragraph 1 of item #46 of the law “On Joint stock companies”.

This proposals were introduced for voting:
Voted:
“For” – 56 votes;
“Against” – 0;
“Abstained” – 0.

Decided: elect Mr. Shayakhmetov as a chairman and Ms. Mukhamedyarova as a secretary of Shareholders general meeting.

AGM chairman announced to present that Board of directors informed all shareholders about the meeting by publishing an article in the “Kazakhstanskaya Pravda” newspaper on April 17, 2007.

The chairman proposed to define the form of voting. It was proposed to determine an open form of voting.
Voted:
“For” – 319 285 504;
“Against” – 0;
“Abstained” – 0.
Decided: determine an open form of voting on the Shareholders general meeting.

Chairman of the meeting announced that the meeting started, read out the agenda and proposed to approve the agenda.
Voted:
“For” – 319 285 504;
“Against” – 0;
“Abstained” – 0.
Decided: approve the agenda of the meeting.

Chairman proposed to start considering the questions of the agenda.

Main achievements of JSC “Kazkommertsbank” in 2006: http://en.kkb.kz/Releases/show_181.shtml