Bank CenterCredit OJSC (Kazakhstan) will issue additional 10,000 th of announced shares and raise liabilities to $350.0 m

/KASE, April 22, 04/ - Bank CenterCredit OJSC (Almaty), whose securities are listed under official "A" category of Kazakhstan Stock Exchange Inc.(KASE), presented to KASE a copy of annual general shareholders meeting that took place on April 2, 2004. Shareholders of CenterCredit Bank (1) approved report by the top management, conclusion of check up committee, consolidated financial statements for 2003 and new edition of the Charter; (2) dismissed check up committee and (3) accepted number of other decisions that follow. Bank's 2003 net income (KZT1,280.4 m) will be retained as no dividends are declared this year. The Bank will issue additional 10,000,000 common shares and amend Prospectus of shares issue as soon as offering of announced shares is completed and authorized body approves report on floatation results. Additional issue will affect the number of common shares issued by the Bank, which is to total 45,316,695 equivalents. Shareholders also decided to increase liabilities of the Bank by the amount, which equals 10% or more of shareholders' equity through: Bonds offering, attraction of syndicated loans, subordinate funds, interbank and other debt instruments for a total up to 350.0 m USD; Offering local subordinated bonds of the fourth issue for KZT2.0 bn with maturity up to 10 years; Renegotiation on terms of EBRD's credit line designated for Kazakh SME financing from 3 to 4 years. Shareholders approved following transactions competed in 2003 that raised Bank's liabilities by more than 10% of shareholders' equity: Credit line agreement with Korean ExImBank dated June 16, 2003 for $5.0 m for medium-, and long-term Korean export financing; Principal agreement on short-term trade finance dated December 8 - December 12, 2003 with DZ Bank AG (Frankfurt, Germany) for financing bank clients' foreign trading activities; Agreement on money market deals dated October 7, 2003 and collateral agreement with Raiffeisen Zentralbank Osterreich AG (Austria). Shareholders approved transactions competed in 2003 on interbank short-term borrowings that raised Bank's liabilities by more than 10% of shareholders' equity. Total value of deals equaled KZT5.0 bn and USD21.0 m. Finally, Bank owners decided to approve following transactions completed in 2003, which were of interest to the Bank: Agreements on financing and issuance of guarantees in favor of related parties for a total of KZT540.2 m; Repurchase agreements with related parties for a total of KZT207.6 m; Deposits collected from related parties for KZT54.3 m; Short -term interbank and foreign exchange deals with related financial institution for USD24,016 m and KZT884.0 m. [2004-04-22]