ARNA JSC (Kazakhstan) to sign an agreement about opening of a credit line for $5.0 m. with Alliance Bank JSC

/KASE, July 20, 05/ - ARNA JSC (Almaty), whose bonds are circulating in the official "A" listing category of Kazakhstan stock exchange Inc. (KASE), has presented to KASE the minutes of prescheduled general shareholders meeting held on July 11 of 2005. In accordance with the agenda shareholders have decided (quotations from the document are given below): 1. "Solicit Alliance Bank JSC about opening of a credit line in the amount of 5,000,000.00 (five million) US dollars, for the term of five years, with 12.0 (twelve) % APR interest rate." 2. "Give to Alliance Bank JSC the right of acceptance-free writing off of funds from all bank accounts opened in any banks in case of non- fulfillment and/or improper fulfillment of obligations of ARNA JSC on bank loan agreements (tranches) given within the credit line and Agreement about opening of a credit line." 3. "Authorize G. Rakhimzhanova General director of ARNA JSC to sign corresponding bank loan agreements, agreements about opening of the credit line with Alliance Bank JSC." Company's primary activities - introduction and exploitation of networks and systems of electronic and radio communications; development, introduction and exploitation of new technologies and services in the sphere of telecommunication, information science. [2005-07-20]