Корпоративное действие BTA Bank JSC — A Restructuring of the Bank’s balance sheet

The issuer believes that a restructuring of the bank’s balance sheet is in the best interests of all of the bank’s stakeholders. If a financial restructuring is not completed, the bank is likely to enter into conservation and/or bankruptcy under kazakhstan law. If the bank enters into conservation and/or bankruptcy, the proceeds available to claimants could be reduced to a level considerably below the value of the cash, new notes, shares and/or gdrs they would receive under the restructuring plan.

The entitlements referred to herein will only be distributed to noteholders on the restructuring date or at all if the restructuring plan is approved by both the claimants and the court and becomes binding on the claimants.

1. Following options are available to noteholders:
1) receive usd notes and usd cash entitlement.
2) receive usd notes and kzt cash entitlement.
3) receive usd notes and use a percentage of the usd cash entitlement to buy additional usd notes, receive the remaining balance as usd cash entitlement.
4) receive usd notes and use a percentage of the usd cash entitlement to buy additional usd notes, receive the remaining balance as kzt cash entitlement.

2. Restrictions:
refer to the offer documentation for the complete conditions and restrictions of this offer.

3. Us investor status
noteholders not able to provide us investor status are not eligible to receive the new notes and must contact the issuer as follows:
contact: mr. Asset zhaisanov
tel: + 7 727 3124671
fax:: + 7 727 2500224
email: zhaisanov(at)bta.kz

timetable
. Settlement instructions deadline: 14/12/2012
. Proration announcement date: to be confirmed
. Results publication date: to be confirmed
. Expected settlement date: 21/12/2012
. Expected entitlement termination date: 21/12/2015

after the settlement instructions deadline noteholders are not entitled to elect to exchange their cash entitlement for new usd notes.

All the positions will be mark down on the settlement date and a new event will be set up giving the possibility to the holders, who did not submit their electronic instructions prior to the settlement instructions deadline, to instruct only for option 1 and 2 described below.

important note: if no instruction is submitted on or before the entitlement termination date, the noteholder’s entitlement will be extinguished and the cash and/or new notes forming such entitlement will be cancelled and/or returned to the issuer.

Entitlement 1. Exchange ratio:

1) receive usd notes and usd cash entitlement for every usd 1,000 in principal amount of dollar notes held, noteholders are entitled to:
. Usd 425.40 in cash and
. Usd 39.44 in nominal amount of the new usd notes

2) receive usd notes and kzt cash entitlement same as option 1, but the cash will be converted from usd to kzt at the close-of-market spot rate:
. For instructions submitted on or before the settlement instructions deadline: the business day before the restructuring date.
For instructions submitted after the settlement instructions deadline: the business day before the cash entitlements are distributed.

3) receive usd notes and use a percentage of the usd cash entitlement to buy additional usd notes, receive the remaining balance as usd cash entitlement
in addition to option 1, noteholders may elect to exchange all or a portion of their cash entitlements for further new usd notes at a ratio of usd 1.00 new note for every usd 0.55 of cash.

4) receive usd notes and use a percentage of the usd cash entitlement to buy additional usd notes, receive the remaining balance as kzt cash entitlement
same as option 3, but the remaining cash will be converted from usd to kzt.

2. Minimum exercise amount: not applicable

3. Accrued and unpaid interest:
interest accrued but unpaid to 17/01/12 will be included in the allocation of entitlements. All interest accrued but unpaid through to the restructuring date will be cancelled pursuant to the restructuring plan.

4. Minimum aggregate acceptance amount:
the exchange offer is not conditional on a minimum aggregate amount of securities offered for exchange.

5. Exchange cap:
no exchange cap has been set.

6. Exchange mechanism:
for option 3 and 4, the election is subject to the availability of further new usd notes for exchange if availability is exceeded, the exchange will be on a pro rata basis. Refer to page 30 of the information memorandum for further details.

7. Poolfactor: not applicable

8. Cash fractions:
fractional entitlement will not be compensated in cash

9. New usd notes
the maturity date should be in 2022 and the interest rate 5.50 pct this security is expected to be eligible in euroclear bank, the isin is not yet known.