BTA BANK GETS NEW CEO

ARKA
Dec 1, 2008

YEREVAN, December 1. /ARKA/. Nur Bakbergenov, a Board member, BTA
Bank CJSC, has been registered as BTA Bank Chief Executive Officer
and Board Chairman.

The revision took effect on November 21, 2008, under a resolution of
the Central Bank of Armenia (CBA).

The Public Relations Department, BTA Bank, reports that Nur Murat
Bakbergenov is a citizen of Kazakhstan and has 10-year experience
of managerial work in the banking system He is advisor to the Board
Chairman, BTA Bank (Kazakhstan).

His priority task is to "found a full-service bank of the BTA Group in
Armenia". For Armenian clients it is an opportunity "to feel at ease"
anywhere in the CIS the BTA Bank carries out its activities.

The BTA Bank CJSC is a strategic partner of the largest Kazakh bank,
BTA Bank Corporation, which owns 48.8% of the authorized capital of
the BTA Bank (Armenia). As of November 25, 2008, the total capital of
the BTA Bank CJSC reached 4,346,434,000 AMD, assets 13,042,112,000 AMD,
liabilities 8,695,678,000 AMD.

The BTA Bank Corporation is a system-forming bank of Kazakhstan and
leader in forming a banking network in the Commonwealth of Independent
States (CIS).

It has partner banks in Russia, Ukraine, Belarus, Georgia, Armenia,
Kyrgyzstan and Turkey, as well as representative offices in Russia,
Ukraine, China and United Arab Emirates. The BTA Bank Corporation
was recognized a20Bank of the Year in the CIS in 2006 and 2007.

At the end of the first half of 2008, the consolidated assets of the
BTA Bank Corporation amounted to $27.8bln, and capital $3.9bln.