16.7% shares of Halyk Savings Bank of Kazakhstan was sold at the closed tender

/KASE, Dec.22, 99/ - JSC "Halyk Bank of Kazakhstan (Almaty, official list of securities, category "A") according to the listing requests has granted to the Kazakhstan stock exchange (KASE) the official press release of the State Property and Privatization Committee of the Ministry of Finance of Kazakhstan about results of the tender on the privatization of share of the state block of the bank's shares. In the press release is spoken that on December 01, 1999 according to the decree of the Government of Kazakhstan of November 10, 1999 "About privatization of a part of the state block of shares of the joint-stock Halyk Savings Bank of Kazakhstan company" the tender was held. 17 legal persons and legal persons consortiums were invited for participation in the tender. There were the both the banks, and commercial companies. Consortium ASIA-INVEST, which includes JSC "Komirbank", "Almaty Commercial Bank" and company "ASIA-INVEST" has become the winner of the tender. 6,031,066 shares from the state block that makes 16.7 % of the bank's authorized capital of after the 4-th additional issue placement were sold for 1,387,283,180 tenge (230 tenge for 1 share) at the nominal of 100 tenge. In result the authorized capital state share has decreased from 80% to 50% plus one share. The tender was conducted under conditions recommended by the Arthur Andersen - the company adviser. The adviser was determined also by the results of the tender conducted pursuant to the decree #1382 of Government of September 13, 1999 " Some questions concerning to the JSC Halyk Savings Bank of Kazakhstan. After signing the sale contract between the Consortium and the Government of Kazakhstan all receipts from the sale will be directed to the state budget.