/IRBIS, Ranida Gabdeyeva, September 14, 04/ - VISOR Investment Solutions announces public offering auction over common shares of Halyk Savings Bank Kazakhstan of eighth emission Kazakhstanskaya Pravda informed.

The National Bank of Kazakhstan registered emission under A 3387-7 number in the government securities register on July 7, 2003. Total emission volume - 13,100,889 shares. Total amount of share to be offered on the auction - 13,100,611.

Auction will take place at 10:00 of local time, on September 27, 2004. Address: Conference Hall, 1st floor, 240 Furmanov street, Almaty.

Auction method: increasing price method; starting offering price - KZT 400 per one common share; step - KZT 1.0. Shares to be offered in two lots 6,550,305 share each.

Auction participation conditions:

1. Auction application deadline - till 18:00 of local time, September 23, 2004. Applications are to be submitted to the underwriter's address: Conference Hall, 1st floor, 240 Furmanov street, Almaty.

2. Warranty payment is obligatory. Total amount is KZT 1,048,048,800 (one billion forty eight millions forty eight thousands eight hundred tenge). Warranty payment must be transferred till 17:00 of local time on September 23, 2004 to the following account: VISOR Invеstmепt Solutions LLP (RNN 600900170457), account 005467229. code 15. BIK 190501601, Halyk Bank of Kazakhstan (RNN 600200048129), code 14. Payment purpose - warranty payment for participation in the offering auction over eighth emission shares of Halyk Bank Kazakhstan JSC.

3. Document proving warranty payment, must be attached to application

4. Bank has a right not to refund warranty payment if:

- winner of auction refuses from an agreement and/or

- winner of auction refuses from its liabilities according to an agreement

5. Those who took part in the auction, but did not purchase anything are refunded with warranty payment. Warranty payment of those who made a purchase is counted off from paid price

6. Those investors who applied for purchasing of share stocks of 8th emission have to meet criteria of part 3 article 16 of the Law "about banks and banking activities in RK", and to meet this criteria:

- application of an investor, a legal entity - must be supplied with certificate stating compliance of the shareholder's equity size (large than start price of the Bank's shares) with requirements set by Kazakhstan regulation, stamped and signed by its chief manger and head accountant;

- application of an investor, an individual - must be supplied with banking certificate confirming presence of the bank account (considering start price of the Bank's shares);

- prior to conclusion of the deal, winners must present financial statements (for legal entities) or documents confirming tax bill payment.

[2004-09-14]