/IRBIS, November 8, 2010/ - Finance & Investment House RESMI JSC (Almaty, IFH RESMI) provided IRBIS overview of major events and their investment ideas and projections for November 8, 2010.

Analysts of IFH RESMI give attention to the following to the important events in the markets:

• Amount of equity capital from Alfa-Bank (Kazakhstan) was about KZT10 billion. As the Chairman of the Board Bank Subsidiary of Alfa-Bank Mr. Danila Smirnov, as of November 1, 2010 shareholders' equity of Alfa-Bank has overcome the threshold of KZT10 billion to KZT10,070,174 thousand. Alfa Bank has made increasing the size of equity through their own means and not resort to financial assistance for the parent company and external borrowing. From July 1, 2011 at the request of the FSA minimum capital of banks of Kazakhstan should increase to KZT10 billion. Currently, these regulatory requirements are 5 billion. Thus, the bank complied with the conditions regarding the minimum amount of AFS equity later this year. According to the FSA as of October 1, 2010 equity capital of 18 banks, including Bank Subsidiary of Alfa-Bank, did not exceed KZT10 bln. Analysts of IFD "RESMI" believe that the best possible merger of small banks to meet the requirements of a minimum level of self capital, which will be introduced from July 1, 2011.

Analysts of IFH RESMI give the following advice for investors in securities of issuers in Kazakhstan:

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Issuer             Last price Predicted price* Up/down from   Target  RSI.
                                               Current price price**  %***
------------------ ---------- ---------------- ------------- ------- -----
Kazkommertsbak            441              796         80.5%     385 57.19
Halyk bank                335              409         22.1%     276 55.86
Bank Center Credit        590            1,218        106.4%   1,039 54.76
RD KMG                 16,000           24,895         55.6%  23,036 52.57
Kazkhtelekom           16,000           33,842        114.5%  29,682 64.70
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    Fundamental evaluation IFH RESMI for 12 months (weekly review)
**  Target according to the consensus forecast of analysts surveyed by Bloomberg
*** Relative strength index - an indicator of technical analysis. determines
    strength of trend and likelihood of change. Overbought / oversold - when
    RSI indicator value is closer to 100% / 0%.

• Cost of common shares Kazkommertsbank assessment IFD "RESMI" will cost no less than KZT796 per share by the end of 2010;
• Halyk Savings Bank of Kazakhstan is estimated IFD "RESMI" as the most promising in terms of business development financial institution in Kazakhstan. Analysts see the growth of the bank's shares up to KZT409 per share;
• Shares of Bank CenterCredit in the long term analysts IFD "RESMI" about the outlook for growth in securities of the bank to the level of 1.230 m.;
• Stocks of Kazakhtelecom are looking most attractive for investment in the long term. Analysts IFD "RESMI" recommend buying simple shareholders of the issuer.
• The updated target price of shares of JSC Exploration Production KMG is KZT24.895 per share.

The given material has exclusively information character and is not the offer or recommendation to make any transactions with the stocks. Agency Irbis doesn't take responsibility for the opinions which are in given material.

[2010-11-08]