CONSORTIUM WITH THE PARTICIPATION OF MANGISTAUMUNAIGAS BOUGHT 33.33% OF STATE SHARES OF HALYK BANK OF KAZAKHSTAN FOR $41M - THE MINISTRY OF FINANCE

/REUTERS, Astana, Nov 20, 01/ - Consortium with the participation of Mangistaumunaigas OJSC on Tuesday bought at the auction 33.33% of state shares of Halyk Saving Bank of Kazakhstan for $41 million, was informed in the press release of the Ministry of finance. "The consortium consisting of Mangistaumunaigas OJSC and limited liabilities partnerships Mercury, Raimbek-Botlers, Ralhimzhan, Altyn Taraz trade-financial company became the trades winner," is said in the document. "The selling price accounted for 6.90 billion of tenge that is equivalent to $41 million at starting price 5.18bn tenge or $35 million," is said in the press release. Among participants of the auction there was a consortium headed by the largest private Kazcommercbank, which according to data of the National Bank controls 32% of Halyk Bank shares pledged under overdue but then prolonged credits to their shareholders. Another participant was a Kazakhstan investor consortium united CenterCredit bank, Temirbank and other companies. Mangistaumunaigas's activities are extraction, transportation, processing and realization of oil, gas and oil products. OJSC accounts for 7,183 shareholders. The share exceeding five percent belongs to Central Asia Petroleum Asia Indonesian company and nominal shareholder - republican state enterprise Information-account center. Authorized capital of Mangistaumunaigas according to data of Kazakhstan stock exchange (KASE) for the first half of year 2001 totaled KZT10.895m, own capital - KZT30.158m. Net income of the company for the first half of 2001 increased from KZT1.388m to KZT6.017m. Starting price for the state block of shares of Halyk bank was determined by the Ministry of finance at the level of $35 million. A sale of 33.33% block of shares of the bank having the most widespread network of branches in country and created on the basis of former Savings bank of Kazakh republic was postponed twice this year. Initially, the auction was appointed on June 28 of 2001, starting price was 2.12 billion tenge. Then the Ministry of finance postponed the auction till October 17 having raised starting price to 2.58 billion tenge ($17.5 million). Kazakhstan plans to receive from the privatization in 20001 38 billion tenge ($250 million). On Monday the government already sold a [part of the state block of shares copper producing corporation Kazakhmys in the amount of 10% at the auction of KASE for 63.15 million. Five percent more of state block of shares beginning from Tuesday are presented at KASE auction.