OREANDA-NEWS. December 29, 2009. JSC BTA Bank (the “Bank”) is delighted to announce that the restructuring proceedings that have been commenced in respect of the Bank before the Specialised Financial Court in Almaty have been recognised in Great Britain as a foreign main proceeding. This recognition was granted by order of the High Court of Justice of England and Wales pursuant to the UNCITRAL Model Law on cross-border insolvency as set out in the Cross Border Insolvency Regulations 2006.

The consequences of obtaining this recognition are that, in Great Britain:

(i) commencement or continuation of individual actions or individual proceedings concerning the Bank’s assets, rights, obligations or liabilities is stayed;

(ii) execution against the Bank’s assets is stayed; and

(iii) the right to transfer, encumber or otherwise dispose of any assets of the Bank is suspended.

The British recognition will facilitate the execution of the Bank’s restructuring plan, which relates to approximately USD 12 billion (KZT 1.8 trillion) of the Bank’s financial indebtedness.

The Bank’s management team very much appreciates the strong support shown by the Bank’s creditors during this difficult time and looks forward to the successful completion of the Bank’s restructuring.