Income ratios of APF for February 2001 - February 2002 acccording to data of NBK

/IRBIS, March 19, 02/ - The Stock Market Regulatory Department of the National Bank of Kazakhstan (Department) has calculated ratios of real and nominal incomes of accumulative pension funds (APF) of the country for February 2001 - February 2002. The data are presented in the following table. ---------------------------------------------------------------- Ratio of Ratio of real nominal Title of PAMC or APF income К3 income К2 ------------------------------------- ----------- ------------ State Accumulative Pension Fund CJSC ---------------------------------------------------------------- State Accumulative Pension Fund CJSC 8.81(+0.05) 15.01(-0.28) ------------------------------------- ----------- ------------ Pension Assets Management Company ABN AMRO Asset Management CJSC Pension Assets Management Company ABN AMRO Asset Management CJSC ---------------------------------------------------------------- KNPF Philip Morris Kazakhstan CJSC - - APF Halyk pension fund JSCOT 9.87(+0.50) 16.13(+0.20) APF ABN AMRO-KaspiiMunaiGas CJSC 8.55(+0.35) 14.74(+0.05) ---------------------------------------------------------------- Pension Assets Management Company Jetysu CJSC ---------------------------------------------------------------- APF UlarUmit CJSC 8.08(+0.21) 15.24(+0.90) APF Kazakhmys CJSC 9.01(+0.62) 15.22(+0.33) OPAPF NefteGas-Dem CJSC 8.50(-1.08) 14.68(-1.47) ------------------------------------- ----------- ------------ Pension Assets Management Company Halyk Bank Kazakhstan CJSC ---------------------------------------------------------------- APF Halyk Bank of Kazakhstan CJSC 7.26(-0.30) 13.37(-0.64) OTAN PAPF CJSC - - ------------------------------------- ----------- ------------ Pension Assets Management Company BTA Asset Management CJSC ---------------------------------------------------------------- PAPF Kazakhstan CJSC 8.85(-0.80) 15.05(-1.17) OPAPF Kurmet CJSC 9.00(-0.97) 15.21(-1.36) ------------------------------------- ----------- ------------ Private Pension Assets Management Company Aktiv-Invest CJSC ---------------------------------------------------------------- PAPF Valut-Transit Fond CJSC 8.50(+0.32) 14.68(+0.01) PAPF Kunayev CJSC 8.12(+0.18) 14.28(-0.14) ------------------------------------- ----------- ------------ Pension Assets Management Company BESTINVEST CJSC ---------------------------------------------------------------- PAPF SENIM CJSC 8.72(+0.08) 14.92(-0.24) PAPF Korgau CJSC 9.88(+1.12) 16.14(+0.85) ---------------------------------------------------------------- Notes: Only those funds, whose assets were under constant management of indicated PAMC throughout the reporting period, are shown in the table. Comparison of data on other APF, whose assets were under the management for incomplete period, will be inaccurate. Weighted average ratio of real income for pension assets of the accumulative pension funds mentioned above for February 2001 - February 2002 equaled 8.42% (8.45% and 8.15% for the last two periods in reverse chronological order, respectively) by the data of the Department. Ratio of nominal income (K2), by the method of the Department, reflects the profitability of APF assets calculated by accruing totals. Ratio of real income (K3) - Department's estimate of the profitability of the assets, including consumer price index (CPI) in Kazakhstan, equaled 105.7 (106.0; 106.4). Devaluation of national currency, that reached 4.66% (IRBIS estimates) by weighted average rate of tenge towards dollar of the Exchange, does not take into consideration K3. Actually, assets of the depositors are protected against devaluation by investing them into securities indexed by the change in exchange rate of tenge against the dollar, into currency bonds and currency deposits of the banks.