Khan Bank has announced that Simon Morris has taken over
from J. Peter Morrow as Chief Executive Officer.  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.”

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.”

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.”

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.