OREANDA-NEWS. On December 19, 2007 Halyk savings bank of Kazakhstan JSC (Almaty), securities of which are traded in the category "A" official list of Kazakhstan stock exchange (KASE), had provided KASE with the press release, saying, reported the press-centre of KASE:

Halyk savings bank of Kazakhstan JSC (the Bank) would like to provide the following comment further to the information note posted of Kazakhstan Stock Exchange on 14 December 2007 regarding the administrative proceedings instituted by the Agency of Kazakhstan on Regulation and Supervision of Financial Markets and Financial Organisations (FMSA).

These administrative proceedings are instituted against Halyk Bank as a result of breaching the reporting deadline for opening of the two new regional branches earlier in 2007. According to the legislation of the Republic of Kazakhstan, the opening of the branch is to be reported to FMSA within 30 days of registration of the branch with the Ministry of Justice of the Republic of Kazakhstan. Halyk Bank reported to FMSA on the opening of these two branches in 5 and 6 days respectively after the regulatory deadline.

Halyk Bank does not consider these administrative proceedings to have any material effect on its business or operations. Management has taken necessary actions to prevent re-occurrence of such instances in the future.

The full version of the press release of Halyk savings bank of Kazakhstan JSC is available on the web site of KASE:

- in Russian at http://www.kase.kz/emitters/scan/hsbk/hsbk_reliz_191207.pdf;

- in English at http://www.kase.kz/emitters/scan/hsbk/hsbk_reliz_191207e.pdf