Issue, circulation and maturity terms of first issue bonds of SB Alfa- Bank OJSC (Kazakhstan)

/IRBIS, Feb 28, 02/ - Following is a characteristics of inscribed coupon indexed bonds of Subsidiary Bank Alfa-Bank OJSC (SB Alfa-Bank OJSC, Almaty) of first issue in connection with their admittance into official list of securities of Kazakhstan stock exchange (KASE) under category "A". -------------------------------------------------------------------------------- Type of securities: Inscribed coupon indexed bonds Indexation type: Of par value at a change of rate of tenge to USD Debt type: Non-subordinated un-provided Issue currency: Kazakhstan tenge (KZT) Servicing currency: Kazakhstan tenge (KZT) Credit ratings of issue: absent as of issue date Credit ratings of issuer: absent as of issue date National identification number: KZ2CKY06A497 Issue number in state register: А49 Register maintenance: Center DAR LLP (Almaty) Date of issue registration: Feb 26,02 Par value in issue currency: KZT15,000.00 Issue volume in issue currency: 1,500,000,000.00 Issue volume in securities: 100,000 Date of circulation start (issue date): Feb 28,02 Floatation term: 6 years from date of bonds admittance into KASE official list Circulation term: 6 years Maturity date: Feb 28,08 Coupon rate (interest rate): 9% APR of indexed par value during the first 18 months of circulation, then - based on decision of The Board of the issuer but not less than 12-month LIBOR in USD Date of coupon payment (interest rate): August 28 and February 28 each year Time basis at all settlements: 30/360 Register fixation term at coupon payment 30 days to payment date Register fixation date for coupon payment: July 28 and January 28 each year Register fixation term at maturity: 30 days to maturity date Register fixation date at maturity: Jan 28,08 Financial consultants: KIB ASSET MANAGEMENT Ltd LLP (Almaty) Date of admittance in trade lists of KASE: Feb 28,02 Date of first trades: Will be determined later Trade code of KASE: ALBNb1 Accuracy of price change at quoting: Four decimals Market-makers at KASE: KIB ASSET MANAGEMENT Ltd LLP Minimal volume of obligatory quotation: 30 bonds -------------------------------------------------------------------------------- Special terms. Each one and a half year not later than 20 calendar days prior to the end of eighteenth month of bonds circulation the issuer announces interest rate for the next one and a half year through publication of information in newspapers "Kazakhstanskaya Pravda" and "Egemen Kazakhstan" and through information to KASE. A size of rate is determined by a decision of the Board of the issuer and cannot be less than LIBOR rate and 6-month monthly interbank deposits in USD set for a date of announcement of interest rate for the next eighteen months. In case of disagreement with announced interest rate a bondholder has a right not later than 10 calendar days prior to the end of eighteenth month of circulation present to SB Alfa-Bank OJSC a written application with a request on repurchase of its bonds. On a first day of the next eighteen months of bonds circulation the bank buys out securities from persons in time submitting application on bonds repurchase at par value indexed to the level of devaluation for the period from bonds circulation start taking into account accumulated interest for the date of repurchase. In case if repurchase date is day off or holiday then the issuer is obliged to repurchase bonds on the first working day next to day off or holiday. Indexed par value of a dеbt is calculated as a multiplication of par value by devaluation temp coefficient (revaluation) of tenge. Coefficient of devaluation (revaluation) temp (Kd) is calculated as a ratio of current weighted average exchange rate of USD (Xt), specified at morning (main) session of KASE, to analogous rate (Xo) for date bonds circulation start (Kd=Xt/Xo). Coupon payment is calculated as a multiplication of indexed for payment date coupon of par value of bonds, coupon rate and number of days in coupon accrual period divided by 360. Persons who acquired bonds not later than 30 days prior to coupon payment date have a right for receiving of coupon payments on bonds and par value of debt. If date of coupon payment or maturity date is not working day then payment is made on next working day. Holder has no right to demand compensation for such delay in payment. Bonds repayment will be realized at indexed for maturity date par value of debt. Funds raised through bonds issue will be directed to a realization of a range of projects connected with crediting of large corporate clients and servicing of cash flows between Kazakhstan and Russia. A part of these funds will be directed to development of new types of services offered by SB Alfa-Bank OJSC in financial market and also - to improvement of clients servicing quality.