Kazakhtelecom (Kazakhstan) not to pay dividends to common shares in 2000

/KASE, Oct 4, 01/ - Kazakhtelecom (Astana) provided the KASE with a copy of the minutes of annual general shareholders meeting which was held on August 7, 2001. Based on approved agenda the shareholders of Kazakhtelecom approved the company's 2000 financial statements audited by Deloitte & Touche (Almaty, Kazakhstan), as well as made following decisions: - approve the Board of directors of Kazakhtelecom which was elected at extraordinary general meeting of the shareholders on May 28, 2001 (Alshinbaev A.M., Bektasov A.A., Jusupova N.A., Nalibaev A.Z., Orazalinov D.S., Sukhanberdin N.S., Utepov E.K.); - not to pay dividends to common shares by the results of 2000; use the profit to create a reserve capital and decrease borrowed funds of the company, and reinvest into investment projects; - take into consideration the need to meet the decision of the Supreme Court of Kazakhstan on deductions of the principal, which is exempt from the repayment by the decision of the Supreme Court, of the KfW bank credit (Frankfurt on Maine, Germany) for the equipment which is on the balance sheet of Mangistaumunaigas OJSC and Kaskor-Telecom OJSC; - approve the assignment of Deloitte & Touche as a company's auditor for years 2001-2003. Following securities of Kazakhtelecom were admitted into official list of KASE securities under category "A": - on October 16, 1997 - common inscribed (KZ1C12280417, trade code - KZTK) and preferred inscribed (KZ1C12280412, trade code - KZTKp) shares; - on April 2, 2001 - inscribed coupon bonds (KZ2CUY03A347, trade code - KZTKb1). Primary activities of the company: telephone, telegraph, television and radio communication.