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JSC Kazkommertsbank (JSCD)

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Thursday 27 December, 2001

JSC Kazkommertsbank

Listing on Kazakh S /Exchange

JSC Kazkommertsbank
27 December 2001

27 December 2001


PRESS RELEASE



   PREFERRED SHARES OF KAZKOMMERTSBANK ARE LISTED ON KAZAKH STOCK EXCHANGE


Kazkommertsbank (KKB) announces that Kazakh Stock Exchange approved preferred
shares for its official listing in A category.

The Bank issues 125,000,000 preferred non-voting shares face value of KZT 10.
The issue was authorised by the General Shareholders Meeting held on 30
November 2001 and properly registered with the National Securities Commission
on 20 December 2001.

The Bank intends to offer the preferred shares to Kazakh investors. Existing
shareholders, including ADRs and GDRs holders without any limitations, are
entitled to subscribe the shares through exercise of respective pre-emptive
rights. The pre-emptive rights' subscription price is going to be announced
later.


Reference information:

Kazkommertsbank is a private bank, which ranks the first in Kazakhstan by
equity, assets and loan portfolio. 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 Tolochenko, Capital Markets                    007 3272 585 116

Mr. Vyacheslav Skudarnov, International Division               007 3272 585
111