Results of KEGOC OJSC (Kazakhstan) in 8 months of 2000

/KASE, Sep.29, 00/ - KEGOC OJSC (Astana), in accordance with the listing requirements, provided the Kazakhstan stock exchange (KASE) with official press-release on the main results of the company in 8 months of the current year. The press-release reads that increase in electricity consumption at the country's major industrial enterprises, observed from the beginning of the year, stimulated the growth in energy consumption and transmission of electricity through the network of KEGOC OJSC, and as a result, energy transmission through the company's network equaled 15,692.1 mln kWh in 8 months of current year, which is by 785 mln kWh, or 5.3% more than planned quantity and by 1,756.6 mln kWh, or 12.6% more than in similar period of last year. In 8 months the company received KZT5,826.6 mln income from its primary activities (excluding VAT), of which KZT5,707.2 mln came from electricity transmission services. It is also said, that to keep the power equipment in working condition the company repaired more than 2,727 km of power lines and 192 units of substation equipment. The number of technical mistakes decreased by 28.4% in 8 months. Presently, KEGOC OJSC is implementing the project on rehabilitation of power networks, with the major component of it being: the modernization of high voltage equipment, automation of substations and relay protection, as well as introduction of united automated control system of the National power network. The project is to be financed with the loans of the World bank and the EBRD, as well as with the company's own funds. Discounted bonds of KEGOC OJSC (KZ73LAIVAA09, trade code - KEGCb) were entered into official list of the Exchange under category "A" on September 26, 2000. The issue volume is $5.0 mln, face value of the bonds - $100, coupon rate - 10.5% APR, payment frequency - semiannual, circulation term is 1 year.