/IRBIS, Galina Tsalyuk, September 10, 04, corrected version of previous day news/ - KOSTANAI MINERALS JSC (Zhetygara, Kostanai region), whose shares are circulating in the stock exchange's official "B" listing category, provided KASE with financial statements for the first six months of 2004.

Following indexes are result of the issuer's financial and economic activity for the reported period, based on the issuer's data (in th. KZT, unless otherwise specified):

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                                       as of      as of   Increase /
Index                              Jul 1, 03  Jul 1, 04  decrease, %
---------------------------------  ---------  ---------  -----------
Authorized capital                   460,000    460,000          0.0
Shareholders' equity               2,095,046  2,216,473         +5.8
Total assets                       5,653,132  5,038,512        -10.9
Net working capital                  475,295   -556,418       -217.1
Accounts receivable                1,687,943    685,156        -59.4
Liabilities, total                 3,558,086  2,822,039        -20.7
Attracted loans (excluding bonds)    604,891  1,194,232        +97.4
Bonds floated                        893,618     45,116        -95.0
Accounts payable                   1,420,330  1,192,475        -16.0
Sales volume                       1,871,225  1,797,724         -3.9
Cost of goods sold                 1,446,741  1,434,161         -0.9
Net income (loss) for the period     139,386     12,644        -90.9
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Shareholders' equity increased on KZT 121.4 m including growth of retained earnings - 236.5 m and decline of additional unpaid capital - 115.1 m.

Relative to similar period of 2003 following accounts have decreased:

• assets - by KZT 614.6 m. including: accounts receivable - by 1.0 bn; deferred expenses - 191.0 m; while depreciated cost of fixed assets and other assets increased by 483.6 m and 95.5 m correspondingly;
• liabilities - by KZT 736.0 m, including: floated bonds - 848.5 m; accounts payable - 227.8 m; deferred income - 153.0 m; other assets - 96.0 m; while attracted loans increased by 589.3 m;
• sales volume - 73.5 m;
• cost of goods sold - 12.6 m.

Net income earned by KOSTANAI MINERALS JSC in first 6 months of 2004 decreased compared to similar period of 2003 by KZT 126.7 m.

Primary activities: production and enrichment of chrysotile-asbestos and production of commodity asbestos and accompanying materials.

[2004-09-10]