Forecasts and recommendations of analysts of IFH RESMI (Kazakhstan) for December 22, 2010

/IRBIS, December 22, 2010/ - Finance & Investment House RESMI JSC (Almaty, IFH RESMI) provided IRBIS overview of major events and their investment ideas and projections for December 22, 2010. Analysts of IFH RESMI give attention to the following to the important events in the markets: - Gazprom will enter the pre-crisis level of production in 2015. Russia's Gazprom (GAZP RM), the largest gas company in the world, said in a statement that will reach pre-crisis production volumes in 2015, not 2013 as previously planned. "During the board meeting it was noted that ongoing evaluation of internal and external gas markets to predict gas production by Gazprom of up to 570-580 billion cubic meters. M by 2015." Gas production in 2009 was at a minimum level of 461 billion cubic meters due to the drop in gas prices, in consequence of the weakening global economy as well as the advent of technologies for the extraction of gas from oil shale deposits. More than 25% of the produced gas is exported to Europe. Also, the statement was published on Gazprom's intention to reduce the debt burden on a company before debt/ebitda 1, the current value of the index debt/ebitda 1.5, or about $ 44 billion, analysts IFD "RESMI" still appreciates Gazprom, c target price to 12-month term in the $ 36 per GDR. Analysts of IFH RESMI give the following advice for investors in securities of issuers in Kazakhstan: -------------------------------------------------------------------------- Issuer Last price Predicted price* Up/down from Target RSI. Current price price** %*** ------------------ ---------- ---------------- ------------- ------- ----- Kazkommertsbak 427 796 86.4% n/a 47.29 Halyk bank 370 409 10.5% 474 59.58 Bank Center Credit 595 1,218 104.7% 1,007 58.13 RD KMG 17,500 24,895 42.3% 23,013 58.29 Kazkhtelekom 18,449 24,398 32.2% 32,000 80.79 -------------------------------------------------------------------------- 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. [2010-12-22]