ForteBank provides notice of swapping preferred shares Z1P40310115 (KZ000A0F5FZ0, ASBNp1) for ordinary shares KZ1C40310019 (KZ000A0F4546, ASBN)

KASE, March 17, 15/ – ForteBank JSC (Almaty, hereinafter – the Bank), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following notice: quote ForteBank JSC (formerly JSC Alliance Bank, the "Bank") has called an annual general shareholders' meeting for 14 March 2015 (the "GSM"). As announced by the Bank previously, one of the items on the agenda for the GSM is the Bank's proposal to exchange all outstanding Preference Shares for common shares in the Bank (the "Common Shares")and to approve the terms and processes for such exchange (the "Exchange"). The Bank hereby notifies holders of the Preference Shares and the PS GDRs that if the relevant resolution concerning the Exchange is approved at the GSM, the Bank contemplates implementation of the Exchange promptly after the GSM, subject to obtaining any relevant regulatory approvals, and expects that the Exchange might be completed by the end of March 2015. If the Exchange is implemented, each Preference Share will be exchanged for 616 Common Shares. No action will be required from holders of the Preference Shares and the Exchange will be given effect automatically within the system of JSC Unified Securities Registrar (in Russian: АО "Единый регистраторценных бумаг"; the "Central Securities Depositary") after submission by the Bank of the required documentation to the Central Securities Depositary. The PS GDRs will be mandatorily exchanged into global depositary receipts representing the Common Shares (the "CS GDRs"). The CS GDRs are expected to be issued under the Bank's new temporary GDR facility that will be created for that purpose. Holders of the CS GDRs will not be required to take any action to give effect to the Exchange and should contact The Bank of New York Mellon, as Depositary in respect of the PS GDRs, with any questions concerning the procedure for exchange of PS GDRs at: drglobaltransactions@bnymellon.com. The Existing Tag-Along Process The Exchange will not affect on any rights that Eligible Shareholders (as defined in the tag along notice dated 27 February 2015 (the "Tag Along Notice") issued by JSC Sovereign Wealth Fund "Samruk-Kazyna") may have pursuant to the terms of the Tag Along Notice ("Tag Along Rights"). Accordingly, each Eligible Shareholder that elects to exercise its Tag Along Rights will, subject to the terms of the Tag Along Notice, continue to be eligible to receive such consideration as it would have been entitled to receive had the Exchange not been implemented. For example, if the relevant Eligible Shareholder complies with the requirements as to Evidence of Eligibility and held one Preference Share as of the Record Date, such Eligible Shareholder will be entitled to exercise the Tag Along Rights in respect of the Common Shares that such Preference Share is exchanged for and will be entitled to receive such consideration as would have been payable in respect of one Preference Share in accordance with the terms of the Tag Along Notice. For further information, please contact: ForteBank JSC Investor relations tel. +7 (727) 2584040 (ext. 52034) e-mail: IR@alb.kz unquote [2015-03-17]