OREANDA-NEWS. March 18, 2010. JSC Alliance Bank (the “Bank”) is pleased to announce that the Distribution Date for the distribution of Entitlements to Claimants has been set for 26 March 2010. This date may change. The Bank is providing instructions to the Distribution Agent that reflect the allocations made pursuant to the Allocation and Reallocation of Claims Mechanism, reported the press-centre of Alliance Bank.

On or about 18 March 2010, the Bank expects to send Claimants (other than Euronoteholders) the information about their Entitlements that they will need to provide to their Direct Participants so that their Direct Participants may submit appropriate Electronic Instructions to the clearing system where they hold their account.

These Electronic Instructions must be given before any distribution can be effected by the Distribution Agent. As previously announced by the Bank, the Distribution Agent has advised the Bank that it will be making distributions from its Clearstream account 11252. The clearing systems (Euroclear and Clearstream) need to receive these Electronic Instructions so that distributions can be made on the settlement date of 26 March 2010. If the Distribution Agent is not able to effect settlements on that settlement date, the Distribution Agent will advise the relevant Direct Participants that there will be a further settlement date three business days later, and so on, until all Entitlements have been distributed.

Claimants that failed to submit Option Election Forms or Electronic Instructions, as the case may be, by the Option Election Deadline on 1 March 2010 will receive equity as consideration for the cancellation of their Claims. In order to receive equity in the Bank on a timely basis these Claimants are reminded that they must submit duly completed Option Election Forms or Electronic Instructions (in accordance with the Bank’s detailed instructions) and should do so immediately. Such Claimants should indicate in their Option Election Forms or Electronic Instructions that they wish to choose Option 5 (equity in the Bank).

The Bank very much appreciates the strong support shown by its creditors and looks forward to the successful completion of its restructuring.

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.
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America. The materials do not constitute an offer of securities for sale in the United States, nor may the securities be offered or sold in the United States absent registration or an exemption from registration as provided in the U.S. Securities Act of 1933, as amended, and the rules and regulations thereunder. There is no intention to register any portion of the offering in the United States of America or to conduct a public offering of securities in the United States of America.

The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.