Financial company REAL-INVEST.kz JSC (Kazakhstan) informed about restructuring of the company

/KASE, December 4, 07/ - Financial company REAL-INVEST.kz JSC (Almaty), being the member of Kazakhstan stock exchange (KASE) of "K", "P" and "H" categories, has furnished KASE with the information statement saying: beginning of quote Financial company REAL-INVEST.kz JSC (hereafter "the Company"), being the member of KASE of "K", "P" and "H" categories notifies that decisions about restructuring of the Company and separation of a management company from its structure have been taken. For that, a daughter organization was created; the only shareholder of the daughter organization is the Company - REAL ASSET MANAGEMENT JSC that, at present, has an independent license from the authorized organ to conduct activities on managing investment portfolio on securities' market. In many countries of the world including Russian Federation, holding two types of professional activities such as brokerage and activities of clients' asset management at the same time is prohibited on legislative level. Legislative differentiation of these two types of activities is applied with the goal minimization of risks, related to their combination, prevention of the possibility of interest conflicts emergence within the company, providing security of rights of company's investors and clients, and with many other goals, concerned with providing stability and efficiency of work of securities' market. In Kazakhstan such differentiation on legislative level has not been stipulated. At present, the Company starts the procedure of assignation of all mutual funds and joint stock investment funds under management of REAL ASSET MANAGEMENT JSC. The change of the management company will be held on the terms of conservation of service quality, principals of asset management, investment declarations, service costs, order of information disclosure and other obligations of the Company, originated on contracts of asset management. Jaras Iskakov who managed the operations of clients' asset management in the Company is at the head of REAL ASSET MANAGEMENT JSC. Also, key employees of the Department of the Company's asset management have been transferred to work for REAL ASSET MANAGEMENT JSC. end of quote [2007-12-04]