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JSC Kazkommertsbank (JSCD)

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Tuesday 03 April, 2001

JSC Kazkommertsbank

Dividend Payment

JSC Kazkommertsbank
2 April 2001


           JSC KAZKOMMERTSBANK PAYS DIVIDENDS TO SHAREHOLDERS

JSC Kazkommertsbank is very pleased to inform its shareholders that on 30 March
2001 the Annual General Shareholders' Meeting, considering outstanding financial
results for year 2000, unanimously decided to pay annual dividends.

The dividends are to US$10,000,000, structured as follows:

- 5.5% Subordinated Notes due 2006 for total face value of US$8,500,000.

- Cash dividend of US$1,500,000 to be paid to tax authorities in Kazakhstan to  
  meet shareholders' liabilities on the Kazakh dividends' withholding tax.

Dividends are to be distributed to shareholders at record on 03 April 2001  pro
rata to their shareholdings.  Notes are to be issued and registered with
Euroclear subject to regulatory approvals.

This is the first time the Bank makes distributions to shareholders after it
went public in 1997.  We believe that this move will help us to increase
shareholder's value and to reward those who kept faith in the Bank in
challenging years 1997-2000.

About the Bank: JSC Kazkommertsbank is a private bank, which is ranked number
one in Kazkommertsbank by equity and assets.  Its GDRs are listed on the London
Stock Exchange, the Istanbul Stock Exchange and are traded on the OTC market in
Frankfurt and Berlin Stock Exchanges.  The free float is over 32% of total
issued capital.


For further information please contact:

Mr. Andrey V. Tolochenko, Head of Capital Markets         007 3272 585 116
Ms. A. M. Arenova, Manager Corporate Finance              007 3272 585 115