KASE Board of Directors fixeS 2011 discount rates for calculation of fair value of illiquid debt securities ISSUED BY organizations - residents of Republic of Kazakhstan

/KASE, January 20, 11/ - By decision of Kazakhstan Stock Exchange (KASE) Board of Directors taken on January 18, 2011 the following discount rates for calculation of fair value of illiquid debt securities issued by organizations - residents of the Republic of Kazakhstan have been fixed: - Rated Debt Securities - 8.89 % APR; - Non-Rated Debt Securities, first sub-category - 11.26 % APR; - Non-Rated Debt Securities, second sub-category - 49.41 % APR; - Buffer category - 39.60 % APR. The discount rates have been fixed in accordance with the Rules of Evaluation of Financial Instruments, contained in Investment Portfolio of the Pension Accumulative Funds (Rules) approved by Decree # 109 of March 26, 2005 of the Board of the Agency of the Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Organizations (FSA) and sent to FSA for approval. According to the Rules, discount rates are fixed by KASE Board of Directors once a year "for every single category (sub-category) of Exchange official list's Debt Securities section, based on the annual weighted average rate in the respective Exchange official list's category (sub-category) by calendar year results". The mentioned discount rates have been defined based on data on weighted average yield of the mentioned categories (sub-categories)of KASE listed debt securities in accordance with KASE's new internal document - "Method of Calculation of Weighted Average Yield Rate for Debt Securities", which was approved by KASE Board of Directors on September 23, 2010 and approved by FSA on October 14, 2010. Illiquid debt securities are defined by the Rules as securities, whose market price cannot be calculated in accordance with KASE's internal document "Methodology of Securities Valuation" due to absence of parameters for such valuation. According to the Rules, data on the fair value of illiquid debt securities issued by organizations - residents of the Republic of Kazakhstan and included into KASE official list must be published weekly on KASE web-site. [2011-01-20]