JSC Astana Finance plans to increase its share capital to KZT 35 - 50 bln (USD 275 – 390 million) during the course of 2007

The increase in share capital will take place by means of an additional issuance of shares among existing shareholders, subsequent to approval of the shareholders’ meeting which will take place in the nearest future. The City of intends to retain its blocking shareholder, at least 25% plus one share, stake in the Company.

Based on consolidated unaudited interim financial statements as of the period ended June 30, 2006, the Company’s total assets have grown by 86% in comparison with the prior year end, while the consolidated loan book has increased by more than 53% as compared to the prior year end.

In February 2006, the Company issued its debut Eurobonds for USD 125 million, maturing in 2009. Fitch Ratings and Moody’s Investors Services assigned ‘BB+’ (stable outlook) ‘Ba1’ (stable outlook) long term credit ratings to the bonds, respectively.

While the management of JSC Astana Finance believes that it will increase its capital there can be no guarantee that it will do so. Market conditions and other factors may impede the issuance of new capital by JSC Astana Finance.

updated 09.12.2008

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