Shareholders of BTA Ipoteka JSC (Kazakhstan) decide to increase company's liabilities by over $10.0 m.

/KASE, December 28, 04/ - BTA Ipoteka JSC (Almaty), whose bonds are circulating in the official "B" listing category of Kazakhstan stock exchange Inc. (KASE), has provided KASE with the copy of minutes of prescheduled general shareholders meeting, which was held on December 13 of 2004. In accordance with the agenda shareholders of BTA Ipoteka JSC took following decisions. 1. Increase liabilities of BTA Ipoteka JSC by: - borrowing a USD10 m. loan from European bank for reconstruction and development for 10 years o the security of demand rights on mortgage loans agreements (including mortgage certificates pledging); - increasing of financing limit from Temirbank JSC on general credit agreement dated August 31 of 2004 to USD5.0 m. until September 1 of 2006 on the security of mortgage certificates. 2. Appoint K. Altynbekov - managing finance director of BTA Ipoteka JSC as the person responsible for the mentioned deals with the right to sign necessary documents. Company's primary activities - carrying out works and rendering services for companies, organizations and population concerned with mortgage financing of purchase, building and repair of real estate, loan operations, consulting services [2004-12-28]