OREANDA-NEWS. February 08, 2007. Kazkommertsbank JSC (Almaty) being a listing company on Kazakhstan stock exchange (KASE) has spread the press release, saying, reported the press-centre of KASE:

On February 5 of current year in the news of some informational agencies, specifically Interfax-AFI, Reuter and others, with a reference on "the head of capital markets and securitization department Aleksey Sudarikov", the was a message saying that Kazkommertsbank JSC may float an issue of Eurobonds to the sum of USD300 m. in the second half year of 2008.

In this connection, Kazkommertsbank makes the next announcement:

- There is no such department as the head of capital markets and securitization department in Kazkommertsbank, and Aleksey Sudarikov is a head of office of assets securitization of the Department of financial institutions. Moreover, the comments of Mr. Sudarikov were mistakenly   interpreted, and he did not mean at all an issue of Eurobonds to the sum, given above.

- According to Maral Amrina - director of the Department of financial institutions "Kazkommertsbank does not have plans of issuing Eurobonds in the near future. It is absolutely clear that in the current conditions on the capital markets it is very difficult to talk about even a possibility of entering the market, even more so about the volumes of supposed funding. Constantly tracing the capital markets, we consider the today's cost of borrowing through the Eurobonds too high for us".

Taking into considerations all said above, we ask to regard the messages concerning the upcoming floatation of Eurobonds of Kazakommertsbank as unfair and being contrary to fact information.