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JSC Kazkommertsbank (JSCD)

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Tuesday 06 June, 2006

JSC Kazkommertsbank

Extention of rights offer prd

JSC Kazkommertsbank
06 June 2006


Notice to Owners of 144A and Regulation S American Depositary Receipts of
KAZKOMMERTSBANK


Kazkommertsbank 144A CUSIP: 48666E103 ISIN# US48666E1038 
Kazkommertsbank Reg S CUSIP: 48666E202 ISIN# US48666E2028


Owners of (American) Depositary Receipts, issued under the Deposit Agreement
dated as of July 21, 1997 , among The Bank of New York, as Depositary (the
'Depositary'), Kazkommertsbank (the 'Company'), and Owners and Beneficial
Owners, are hereby notified on developments regarding DR holders' rights under
the laws of the Republic of Kazakhstan.


By the decision of the Board of Directors, JSC 'Kazkommertsbank' (hereinafter -
the Bank), located at 135 zh Gagarin St., Almaty, Republic of Kazakhstan,
herewith gives Notice on the extension of the period during which the
shareholders of JSC Kazkommertsbank, owners of the common shares, have the right
to submit their orders for purchase of common shares placed by the Bank in
accordance with solemn preemptive purchase right as per Article 16 of the Law of
the Republic of Kazakhstan 'On the Joint Stock Companies'.


The preemptive purchase rights are now extended to the holders of the depositary
receipts, whereat common shares of the Bank are an underlying asset. The Bank
has received an official letter # 03-01-09/3358 dated 02.06.06 from the Agency,
whereby the Agency has provided the mechanism for the exercise of the preemptive
purchase rights by the depositary receipts holders (whereat common shares of the
Bank are an underlying asset). The letter has not addressed the issue of voting
rights.


In order to extend the opportunity for the participation in the rights offer,
the Bank requests the paragraph 7 of the announcement of the Bank's common
shares placement among the shareholders by the preemptive purchase right,
published in the Kazakhstanskaya Pravda newspaper # 107 (25078) from 4 May 2006,
read as follows:


'The period during which the shareholders of JSC Kazkommertsbank, owners of KKB
common shares, can exercise their preemptive purchase rights, is till 14 July
2006 inclusive of that date.'


The depositary receipts holders can exercise the preemptive purchase rights for
the placed common shares of the Bank (whereat common shares of the Bank are an
underlying asset), by directly approaching the depositary receipts Issuer - the
Bank of New York, that will in turn submit the orders to the Bank.


Your attention is called to the fact that the fixing date for registry of the
shareholders / holders of the depositary receipts (whereat common shares of the
Bank are an underlying asset), who have the preemptive purchase right for the
placed common shares of the Bank, is fixed, remains the same - 26.04.2006. All
other conditions of the placement remain the same as well. The shares unplaced
through the rights offering will be offered to the market.


In connection with the above the shares are not registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in the U.S.
absent registration or an applicable exemption from registration requirements.
No offer or solicitation of an offer will be made in the United States, or to
U.S. persons.


All inquiries regarding this notice should be addressed to the following contact
at the Company:


Mr. Orinbasar Kuatov

Head, Investor Relations / Capital Markets

FI, Kazkommertsbank

Tel: +7 (3272) 585 125

E-Mail: okuatov@kkb.kz

June 6, 2006



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