/KASE, Aug 14, 01/ - Bank TuranAlem OJSC (Almaty) provided the KASE with auditing report of Ernst & Young (Almaty, Kazakhstan) made on its 2000 consolidated financial statements.

Based data of an independent auditor the following are financial and economic results of the issuer's activity as of December 31, 1999 and 2000 (in m KZT, unless otherwise specified):

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                                                     As of Jan 1,  As of Jan 1,
Indicator                                                      00            01
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Authorized capital (paid)                                   8,757        11,931
Shareholders' equity                                        5,083         8,935
Total assets                                               45,922        79,205
Total liquid assets                                        11,640        17,261
Commercial loans and prepayment (net)                      26,989        53,806
Liabilities to the Government and NBK                         700           766
Liabilities to the banks and financial institutions         9,023        16,218
Liabilities to the clients                                 28,224        46,933
Operating income                                            7,004        13,141
Total expenses                                              6,093        12,244
Net income                                                    911           897
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Calculated based on the auditor's data:
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Return on equity (ROE), %                                   17.92         10.04
Return on assets (ROA), %                                    1.98          1.13
Earnings per share (EPS), KZT                            1,040.31        751.82
Price earnings ratio                                        12.02         13.73
Book value of a share, KZT                               5,804.50      7,488.89
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Auditing was conducted by Ernst & Young in compliance with the International Accounting Standards.

Audited financial statements differ from the statements, which had been prepared according to Kazakhstani accounting standards, therefore, they had been corrected in order to meet International Accounting Standards (IAS).

The major divisions and subsidiaries of the bank, whose financial statements had been consolidated are: TuranAlem Securities LLP (Almaty, Kazakhstan, stock market activities, ownership - 100.0%), BTA Leasing OJSC (Almaty, Kazakhstan, lease, ownership - 100.0%), as well as Kazko Construction (Almaty, Kazakhstan, construction) and Samal Properties (Almaty, Kazakhstan, real estate management), were the bank has no ownership, but has a control over them in compliance with IAS.

In the opinion of Ernst & Young, consolidated financial statements of the bank for the years 1999-2000 gives true picture of financial situation of Bank TuranAlem OJSC in all essential aspects as of December 31, 1999 and 2000, as well as the results of its income and cash flow statements in compliance with International Accounting Standards.

Now following securities of Bank TuranAlem OJSC are traded within official list of the KASE under category "A":

• from September 9, 1999 - common inscribed shares (KZ1C34920412, trade code - BTAS);
• from February 19, 2001 - first issue subordinated coupon bonds (KZ2CUY08A320, trade code - BTAS; $100; $20m; Feb 19, 01 - Feb 19, 09; semiannual coupon at 12% APR, current market yield - 11.50% APR);
• from July 19, 2001 - euronotes (XS0131688227, trade code - BTASe1; $100m; June 28, 01 - June 28, 04; semiannual coupon at 11.5% APR), issued by its subsidiary TuranAlem Finance B.V. (Rotterdam, Netherlands) under 100% guarantee of the bank.