Investment attractiveness of debt instruments on KASE within May 25 - 31 of 2006

/IRBIS, Valeriy Khegay, June 1, 06/ - Following is the table that allows to compare investment attractiveness of debt financial instruments, which were regularly traded or quoted on Kazakhstan stock exchange (KASE) within May 25-31 of 2006. Trends are given relative to previous week. Instruments are given in descending order within the groups, based upon their attractiveness. ------------------------------------------------- Yield, % APR Financial ------------ Coupon, Duration, instrument value trend % APR years ------------- ----- ----- --------- --------- Non-indexed instruments denominated in tenge ------------------------------------------------- UKPFb1 11.71 +1.71 14.00 1.3 TEBNb4 10.01 0 8.00 9.1 ASFIb9 9.85 +0.35 8.00 15.0 TSBNb2 9.58 +0.08 9.00 6.2 KRZHb1 9.00 0 14.00 4.6 CSBNb6 8.55 0 8.50 8.9 TSBNb3 8.50 -1.00 8.00 2.7 ATFBb4 8.30 +2.00 8.50 8.5 NRBNb4 8.25 +0.15 8.00 2.6 MREKb2 8.22 0 13.00 4.2 TXBNb2 8.00 0 11.00 4.1 VTZLb1 8.00 -0.26 10.00 7.4 VTSKb2 8.00 0 10.00 5.4 KASSb1 8.00 0 9.00 4.7 TEBNb5 7.96 -0.01 9.75 2.6 VTTHb1 7.93 0 10.00 6.4 ASBNb4 7.80 -0.70 7.00 1.9 ULBAb1 7.50 0 8.25 2.6 NRBNb5 7.38 -1.12 7.50 10.0 HSBKb7 7.25 +0.06 7.50 8.6 PRKRb2 7.05 -0.36 8.00 6.8 BTAIb10 7.00 +7.00 7.00 3.0 PRKRb1 7.00 0 8.00 3.0 HSBKb3 6.80 0 9.00 3.1 BTAIb1 6.51 0 10.00 4.6 BTASb5 6.50 0 7.00 9.6 ASBNb5 6.50 0 7.00 2.3 ASFIb8 6.10 0 6.00 5.0 ATFBb3 6.10 -1.90 8.50 2.5 ZIG_b1 6.10 -1.90 8.50 0.4 KZIKb11 6.00 0 6.90 8.9 HSBKb9 6.00 0 7.50 9.1 CCBNb5 6.00 0 8.50 1.3 EUBNb1 6.00 0 6.50 2.5 TXBNb1 6.00 0 15.00 0.3 CCBNb12 5.80 0 9.00 4.6 CS_repo 5.70 +0.87 - 1.0 EUBNb2 5.50 0 6.00 5.5 HSBKb5 5.50 0 5.00 1.0 KKGBb3 5.00 0 7.00 0.6 МЕОКАМ 3.38 +0.26 5.50-6.10 0.3-3.2 UKTCb1 3.00 0 9.00 0.4 МЕККАМ, notes 2.04 -0.54 - 0.006-0.1 GS_repo 0.97 +0.20 - 0.003-0.1 ------------------------------------------------- Instruments indexed on inflation ------------------------------------------------- KATRb1 13.00 +3.00 14.00 2.1 AKFIb1 10.20 - 9.50 2.9 ORNKb1 9.50 0 10.00 4.3 KIBNb1 9.50 0 9.50 6.5 ASFIb5 9.50 +0.40 9.90 3.7 VITAb5 9.50 +0.01 10.00 7.0 VITAb4 9.31 +0.51 9.45 3.9 TSSMb1 9.16 +0.21 10.00 4.9 VTBNb4 9.12 +0.62 9.50 6.0 ASFIb7 9.04 -0.31 9.00 9.1 KKAGb1 9.00 0 10.00 3.7 KASTb1 8.90 - 10.70 5.0 VTBNb3 8.87 -1.24 9.00 4.0 KZALb1 8.85 0 9.90 3.0 TXBNb3 8.80 0 10.70 5.4 KZASb2 8.70 +2.00 9.90 3.1 VTBNb2 8.66 -0.33 9.90 3.6 NRBNb3 8.54 +0.79 8.30 1.1 NFBNb1 8.50 0 9.00 6.3 CSBNb4 8.33 -0.73 9.00 5.0 CCBNb13 8.30 0 9.00 9.9 CSBNb5 8.30 0 8.50 5.6 CCBNb4 8.24 +2.24 10.00 5.3 BTAIb4 8.08 +0.02 10.90 4.0 US_JPM_e1 8.07 -0.19 10.62 9.7 BTASb3 8.00 +2.00 10.70 7.4 BTASb4 8.00 -0.51 9.90 8.0 GLOTb1 8.00 0 11.70 1.9 TEBNb6 7.99 0 9.90 6.6 ATFBb5 7.81 -0.43 10.90 6.0 BTAIb6 7.75 -1.25 9.50 4.1 CCBNb7 7.59 -0.31 9.90 9.0 TSBNb1 7.50 0 11.70 1.0 ASFIb6 7.50 0 9.00 6.1 BTAIb7 7.50 0 8.60 6.1 ASFIb4 7.50 -3.29 11.20 5.0 ASBNb3 7.33 0 10.90 5.4 BTLZb1 7.10 0 9.00 2.6 HSBKb4 7.00 0 9.60 4.1 CCBNb3 7.00 0 13.50 4.0 BTAIb5 6.90 0 9.90 9.0 CCBNb8 6.60 0 8.50 9.2 HSBKb8 6.60 0 9.40 8.9 BTAIb8 6.50 0 8.20 7.2 BTAIb9 6.50 0 8.50 9.7 BTAIb2 6.50 0 10.20 8.4 CCBNb6 6.50 0 9.40 8.6 BTAIb3 6.30 0 8.50 5.6 CCBNb10 6.20 0 8.50 9.4 KZIKb12 6.14 0 7.50 10.9 HSBKb11 6.00 -0.17 7.75 9.9 KZIKb3 6.00 0 9.90 7.8 KKGBb5 6.00 0 7.50 9.3 CCBNb11 6.00 0 9.00 9.6 CCBNb9 6.00 0 7.50 9.2 KZIKb4 6.00 -1.30 9.40 7.8 KKGBb4 6.00 0 7.50 8.8 KZIKb2 6.00 0 10.70 7.3 HSBKb10 5.80 0 6.10 9.4 KARMb2 5.50 0 9.90 2.6 KZIKb6 5.20 0 9.29 4.8 KZIKb5 5.00 0 9.29 2.8 KZIKb7 5.00 0 9.00 5.3 KZIKb10 4.50 0 5.69 3.8 KZIKb9 4.00 0 4.90 1.8 ------------------------------------------------- Instruments indexed on devaluation of tenge to US dollar ------------------------------------------------- ALKSb2 15.00 -0.61 10.00 0.1 TEBNb2 14.50 0 11.00 2.3 NRBNb2 9.24 -0.06 9.00 5.0 VTBNb1 9.00 -0.50 9.00 0.3 ASBNb1 8.65 -0.45 9.00 3.6 HSBKb2 8.40 +0.09 8.00 1.0 ATFBb2 8.00 -0.50 9.00 0.6 BTASb2 7.90 -1.60 9.00 3.9 HSBKb 7.50 0 11.80 1.1 KKGBb2 7.50 +0.25 8.00 3.5 AST048.006 7.32 -0.48 8.50 1.1 BRKZb1 6.55 0 8.50 0.7 KZAPb1 6.50 0 8.50 0.8 ART060.004 6.50 0 8.50 2.0 BTASb1 6.50 -3.00 12.00 2.7 ARU060.003 3.70 -1.05 8.60 0.3 AST048.005 3.00 -2.72 8.50 0.4 ------------------------------------------------- Instruments indexed on devaluation of tenge to US dollar with protection from strengthening of tenge to dollar ------------------------------------------------- KZNHb2 10.73 +1.56 10.00 3.7 PDESb1 9.00 0 9.00 4.6 ASBNb2 9.00 +1.50 8.50 0.4 CSBNb3 8.50 0 8.75 4.5 CSBNb2 8.10 0 9.50 4.0 RGBRb3 8.00 0 10.00 1.7 ROSAb1 8.00 0 11.00 0.9 TEBNb3 7.99 0 9.00 6.4 MREKb1 7.50 0 13.00 0.9 CHFMb1 7.00 0 10.00 0.7 CCBNb2 7.00 0 10.00 2.8 KZPSb1 6.90 -1.93 8.00 2.0 KZTCb1 6.80 0 8.00 4.2 ASFIb3 6.60 0 7.00 2.5 ------------------------------------------------- Instruments indexed on devaluation of tenge against US dollar and inflation rate ------------------------------------------------- US_MER_e1 8.60 -0.13 9.05 14.6 JGOKb2 7.00 0 8.00 6.9 ------------- ----- ----- --------- --------- Non-indexed instruments denominated in foreign currency ------------------------------------------------- BTASe3 6.98 +0.04 7.88 4.0 KKGBe5 6.87 0 7.88 7.9 RU_02_3003 6.72 +0.01 5.00 23.9 BRKZe4 6.55 +0.11 6.00 19.8 KKGBe4 6.49 -0.01 8.50 6.9 RU_01_2806 6.48 -0.01 12.75 22.1 BRKZe3 6.29 +0.10 6.50 14.0 ATFBe4 6.25 0 8.13 4.4 KKGBe2 6.00 0 11.00 1.6 BRKZe2 5.89 +0.09 7.38 7.5 KKGBe6 5.70 0 7.00 3.4 ATFBe2 5.50 0 8.88 3.5 HSBKe1 5.50 0 8.13 3.4 ATFBe1 5.50 0 8.50 0.9 BTASe2 5.40 +0.69 10.00 1.0 BRKZe1 5.12 +0.31 7.13 1.4 MFO bonds 4.91 -0.01 4.38-5.50 6.3-7.5 KKGBe3 4.00 0 10.13 0.9 KZTOe1 1.69 -1.16 8.50 0.1 ------------------------------------------------- Yields of bonds on which deals were made are calculated as average of the deals, on the rest bonds - as average of the quotations of sale. On bonds with floating coupon forecasted yield is given, calculated by current coupon value. Term of instrument is shown with regard to the last date of the analyzed period (for bonds - till maturity, for repo instruments - till repo closing date). Rate of tenge strengthening to dollar is estimated at weighted average rate of the main session of KASE for the analyzed period at 54.2% APR. The yields shown here do not incorporate overhead expenses that are inevitable when conducting operations and fixing profits. Securities marked by an asterisk are the instruments with less than a year circulation term. Weighted average effective yields are given for them. [2006-06-01]