OREANDA-NEWS. August 11, 2011. Governance Services Standard & Poor's announced the confirmation of the rating, "Analysis and
evaluation of the effectiveness of corporate governance, accountability and management", assigned to the JSC "Development Bank of Kazakhstan" (DBK) at the level of "GAMMA 5+" and its subsequent withdrawal, reported the press-centre of KASE.

Grading of rating assessment GAMMA is from 1 to 10, with 1 - minimum 10 - maximum rating value.

As indicated, the rating had been withdrawn at the initiative of Standard & Poor's in connection with the decision to stop providing services to evaluate corporate governance on the methodology of GAMMA. However, Standard & Poor's will continue to evaluate corporate governance in credit analysis.

"The Board of Directors of DBK is the most important advantage in the corporate governance of the bank. Since 2010, the Board of Directors consists of four experienced independent directors in addition to the three high-ranking representatives of the Government and the National Welfare Fund "SK", - said analyst of Rating Service of Management of Standard & Poor's Shvyrkov Oleg, whose words are reported.

"However, the Board of Directors received an independent majority, most recently, and its ability to influence the decisions of the fund, "Samruk Kazyna" and the government, especially in contentious situations, is not yet verified", - concluded Mr. Shvyrkov.

Rating GAMMA, assigned to the DBK - the result of four component analysis, with gradations of marks from 1 to 10:

- Shareholder influence - 5

- Shareholder Rights - 5

- Transparency, audit and risk management - 5 +

- Board effectiveness, strategic process and incentives - 5 +

The opinions expressed are the independent opinions of S&P's Governance Services, and do not reflect the opinions of other areas of Standard & Poor's. Standard & Poor's Corporate Governance Scores, GAMMA scores and other analytic services are performed as entirely separate activities in order to preserve the independence and objectivity of each analytic process

The info on corporate ratings is available on Standard & Poor's web site at www.governance.standardandpoors.com and on the Russian-language web site www.standardandpoors.ru. Information on Corporate Governance Scores and GAMMA scores is available at www.governance.standardandpoors.com. Alternatively, call one of the following Standard & Poor's numbers:  Moscow (7) 495-783-4000/40.

This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities, financial instruments or strategies mentioned herein may not be suitable for all investors. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only correct as of the stated date of their issue.