American Express and JSC ’’Kazkommertsbank’’ Launch the First American Express Cards® Issued in Kazakhstan

New Cards Offer Consumers Innovative Benefits

ALMATY.- JSC “Kazkommertsbank” today announced the launch of the American Express® Gold Card and The Platinum Card® from American Express in Kazakhstan. The new cards, available in Kazakhstani tenge or US dollar denominations, have been designed to meet the needs of a wide range of local consumers who seek a card product that can support their financial and lifestyle needs.

Kazkommertsbank is the exclusive issuer of American Express Cards in the market and is also responsible for signing new merchants in Kazakhstan to accept American Express Cards.

Yermek Shamuratov, Managing Director of JSC “Kazkommertsbank” commenting on the launch of the first American Express cards in Kazakhstan said: “Stability, guarantees, quality are our day-to-day values, and we are pleased to partner with American Express to create card products that provide financial flexibility as well as features never before seen in this market.”

“We are extremely proud to partner with Kazkommertsbank to offer these innovative card products in the Kazakhstani market,” said Debra Davies, Vice President and General Manager, American Express. “The financial and lifestyle needs of consumers in this market have been evolving rapidly in recent years, and these American Express Cards are deigned to meet the needs of Kazakhstani consumers when they are shopping at home or traveling abroad.”

The new American Express Cards launched today provide a number of benefits and services that are new to the Kazakhstani market as well as several core benefits associated with the American Express brand and products around the world.

* World-Class Customer Service, 24 hours a day, 365 days a year. A dedicated team of local professionals will provide 24x7 support in Kazakhstan, and American Express Cardmembers can also enjoy service around the world the 2 200 American Express Travel Service offices. This will help Cardmembers feel like at home in any country assisting them in almost everything – from making travel arrangements to providing free, emergency card replacement or help in case of an accident.

In addition, Platinum Cardmembers will receive concierge service from lifestyle specialists that can meet almost every unique request whether it’s making dinner reservations or arranging a special gift to loved ones anywhere in the world.

* Financial Flexibility -- These American Express Cards provide interest free grace periods that allow Cardmembers the flexibility of paying off their balances in full or over time. In addition, American Express cards do not require a safety deposit. A Cardmember can start using the card right after its activation. Cardmembers can access cash at more than 550 000 ATMs around the world.

* Shopping Benefits -- In addition to being accepted in hotels, restaurants and shops in Kazakhstan and over 200 countries around the world, the cards provide opportunities for Cardmembers to earn points that can be redeemed for special benefits at participating Kazakstani retailers.

* Travel with American Express. Cardmembers can take advantage of special travel booking services, including arranging business trip within Kazakhstan or a journey around the world. In addition, Platinum Cardmembers can enjoy a number of privileges and special access services, such as free flight or hotel room upgrades and special treatment at top hotels around the world.

* Peace of Mind. These American Express Cards include an array of insurance programs that will provide coverage when Cardmembers are at home or traveling abroad. Purchase protection can protect retail purchases in the event of theft or accidental damage; travel accident insurance can protect Cardmembers and their families when traveling and travel inconvenience insurance can cover the cost of purchasing new clothes or a meal in the event luggage is lost or flights are delayed.

The cards issued by JSC “Kazkommertsbank” are accepted by the American Express global network of merchants in more than 200 countries, including Kazakhstan where they will also be responsible for managing relationships with merchants. American Express Cardmembers in Kazakhstan can use their cards at many popular local retailers, shops, restaurants and hotels.

To apply for an American Express® Gold card, consumers can call + 7 (727) 244 22 22. The Platinum Card is available by invitation only.

About JSC “Kazkommertsbank”
Established in 1990, Kazkommertsbank is the largest private, full-service bank in Kazakhstan, measured by total assets, lending portfolio, net profit and total deposits.
Bank’s strategy is to secure leading positions in the bank and financial services industry, while increasing profitability through managed growth and growing operational efficiency.
Other than accepting deposits and providing lending in tenge and foreign currencies, bank also offers wide range of services on current accounts, such as payments, debit and credit cards, cashing, retail banking.

The Bank issues both VISA and Europay/Mastercard credit and debit cards. Its debit and credit cards provide access to the Cirrus/Maestro system. As at 31 December 2005, the Bank had 615 000 cards in issue. The Bank is also an authorized agent for distribution of American Express and Diners Club cards and was the first bank in Kazakhstan to issue smart cards, which incorporate a chip as well as a magnetic strip for security, to its customers in 2001. In 2005, the Bank was the first Kazakhstani bank to launch credit bonus card -- GoCard.

In addition, the Bank has an established automatic teller machine (“ATM”) network, and, as at 31 December 2005, it operated 381 ATMs and 2664 point-of-sale terminals. The Bank was also the first local bank to offer telephone banking and internet banking services to its customers.

In addition to banking, the Bank offers other financial services. It is a major participant in the securities markets and the foreign currency markets in Kazakhstan and a major provider of cash management services to corporations, including payroll services. The Bank is authorized to engage in other activities, including the sale, purchase and safekeeping of precious metals, including gold and silver, under the Bank’s general banking license. In 2001, the Bank began to offer trust services to its corporate and retail clients, which mostly relate to trust management over cash and assets.