Fitch Ratings - London/Moscow - 31 January 2007: Fitch Ratings has today assigned Center Credit International B.V.’s USD500 million 8.625% eurobond issue due 2014 a final rating of Long-term 'BB-' (BB minus). The notes will be irrevocably and unconditionally guaranteed by JSC Bank CenterCredit (“CenterCredit”) rated Long-term Issuer Default (IDR) 'BB-' (BB minus)/Stable Outlook, Short-term 'B', Support '3', Individual 'D'. Further details on the structure of the issue can be found in Fitch's announcement on 8 January 2007 (see www.fitchresearch.com).

BCC is one of the six largest banks in Kazakhstan with a market share of around 7.8% at end-September 2006, and focuses primarily on the SME and retail segments, utilising its countrywide branch network. Bakhytbek Bayseitov, current Chairman of the Board of Directors, is now consolidating a 51% stake in the bank. The management team has increased its stake since 1 January 2007, and now owns a 22% stake in BCC.