Source: Khan Bank                          Date: 04 August, 2010

Khan Bank has announced that Mr. Simon Morris has taken over from Mr. J. Peter Morrow as Chief Executive Officer.  Mr. Morris has been with the Standard Chartered Bank (SCB) in Asia, Europe and Africa for 25 years. Khan Bank Chairman Hideo Sawada commented, “Khan Bank has thrived over the past ten years, and we are delighted that Simon is joining us. He has exactly the experience to lead our success to another level.”

Mr. Sawada added, “We thank Pete Morrow for his service and are pleased that he has agreed to stay on at Khan Bank as an advisor and director for two more years, to provide continuity of our relationships with key clients and other stakeholders.”

Mr. Morrow commented, “It has been a privilege to lead Khan Bank for the past ten years, and to see it develop into Mongolia’s leading bank. I will continue to work hard to support Simon and all our colleagues for the Bank’s further growth.”

Mr. Morris comes to Khan Bank with extensive banking experience in international management, finance, corporate and consumer banking. From 2000 to 2010, Mr. Morris served as CEO of SCB in Brunei, the Philippines, Indonesia, and most recently Sri Lanka.