Investment attractiveness of debt instruments on KASE within July 20 - July 26, 2006

/IRBIS, Valeriy Khegay, July 27 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 July 20 -July 26, 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 10.00 0 14.00 1.1 TEBNb4 10.00 0 8.00 9.0 TSBNb2 9.58 +0.08 9.00 6.0 TSNAb1 9.00 0 9.00 2.9 KASSb1 9.00 +0.63 9.00 4.6 KRZHb1 9.00 0 14.00 4.4 HSBKb3 8.80 +2.00 9.00 2.9 CSBNb6 8.55 -0.05 8.50 8.8 TSBNb3 8.50 0 8.00 2.5 ASBNb6 8.25 0 8.50 2.7 ASBNb4 8.10 +0.30 7.00 1.7 HSBKb9 8.10 +1.54 7.50 9.0 MREKb2 8.07 0 13.00 4.1 TXBNb2 8.00 0 11.00 3.9 TEBNb5 8.00 0 9.75 2.4 TEBNb9 8.00 0 9.75 2.9 ASFIb9 8.00 0 8.00 14.8 HSBKb7 8.00 +0.75 7.50 8.4 NRBNb4 7.75 0 8.00 2.4 ULBAb1 7.50 0 8.25 2.4 NRBNb5 7.30 0 7.50 9.8 HSBKb5 7.30 0 5.00 0.8 PRKRb2 7.25 0 8.00 6.6 BTAIb10 7.00 0 7.00 2.8 PRKRb1 7.00 0 8.00 2.8 CS_repo 6.95 +1.32 - 0-0.5 BTASb7 6.85 +0.85 7.00 30.0 ATFBb3 6.64 +0.54 8.50 2.4 BTASb5 6.50 0 7.00 9.4 BTAIb1 6.50 0 10.00 4.4 ASBNb5 6.50 0 7.00 2.1 ATFBb4 6.30 0 8.50 8.3 ASFIb8 6.10 0 6.00 4.8 ZIG_b1 6.10 0 8.50 0.2 TXBNb1 6.00 0 15.00 0.1 KZIKb11 6.00 0 6.90 8.7 EUBNb1 6.00 0 6.50 2.3 CCBNb5 6.00 0 8.50 1.2 CCBNb12 5.80 0 9.00 4.4 EUBNb2 5.50 0 6.00 5.4 KKGBb3 5.00 0 7.00 0.5 MEOKAM 3.59 - 3.35-4.05 1.6-3.8 UKTCb1 3.00 0 9.00 0.2 KZIKb14 3.00 0 - 0.8 MEKKAM, notes 2.35 -0.65 - 0.003-0.1 GS_repo 1.42 +0.56 - 0.003-0.1 -------------------------------------------------- Instruments, indexed on inflation rate -------------------------------------------------- KATRb1 12.00 +2.00 15.90 1.9 VTBNb3 9.86 +0.86 9.00 3.9 KIBNb1 9.50 0 10.90 6.4 GLOTb1 9.50 +1.50 11.70 1.7 ORNKb1 9.50 0 10.00 4.2 VITAb4 9.50 +0.47 9.45 3.7 KZALb1 9.40 -0.84 10.90 2.9 ATFBb5 9.33 +1.08 10.90 5.8 VTBNb4 9.26 +0.08 9.50 5.9 CSBNb5 9.10 +0.80 10.00 5.5 TSSMb1 9.05 +0.25 10.00 4.7 TXBNb3 9.00 +0.20 10.70 5.3 VTBNb2 9.00 +0.30 10.00 3.4 KKAGb1 9.00 0 10.00 3.6 KKAGb2 9.00 0 9.00 4.7 ASFIb5 9.00 +2.00 10.90 3.5 BTAIb4 8.97 +0.17 10.90 3.8 TEBNb8 8.55 +0.55 9.70 5.9 NFBNb1 8.50 0 9.00 6.2 CSBNb4 8.50 0 9.40 4.9 US_JPM_e1 8.27 +0.02 10.62 9.6 ASFIb7 8.20 -1.43 10.90 8.9 TSBNb5 8.00 -2.00 9.90 7.9 TEBNb6 8.00 0 10.00 6.4 BTAIb6 8.00 0 10.00 3.9 TEBNb7 8.00 -0.90 9.70 8.9 BTASb4 7.99 +1.49 10.90 7.9 ASFIb6 7.70 -1.80 10.90 5.9 NRBNb3 7.65 0 9.90 0.9 ASFIb4 7.50 0 11.20 4.8 BTAIb7 7.50 0 9.90 6.0 TSBNb1 7.50 -0.47 11.70 0.8 ROSAb2 7.48 -0.01 10.00 4.8 VITAb5 7.40 0 10.00 6.8 CCBNb7 7.36 +0.26 9.90 8.9 ASBNb3 7.25 0 10.90 5.3 KASTb1 7.21 0 10.70 4.8 BTLZb1 7.10 0 9.00 2.4 KZIKb12 7.07 +1.07 7.50 10.7 BTAIb9 7.04 0 8.50 9.6 KASTb2 7.00 - 9.90 4.9 HSBKb4 7.00 0 10.60 3.9 CCBNb3 7.00 0 15.00 3.9 EUBNb3 7.00 -0.22 8.00 6.7 CCBNb13 6.93 +0.03 9.00 9.7 BTAIb5 6.90 0 9.90 8.8 KZIKb4 6.90 +0.90 9.40 7.7 CCBNb10 6.81 0 8.50 9.2 KZASb2 6.70 0 10.90 2.9 CCBNb8 6.60 0 8.50 9.1 HSBKb8 6.60 0 9.40 8.7 BTAIb2 6.50 0 10.20 8.2 CCBNb6 6.50 0 10.40 8.4 BTAIb8 6.50 0 8.20 7.1 BTAIb3 6.30 0 10.00 5.4 HSBKb10 6.10 +0.30 6.10 9.3 FRMPb1 6.00 0 9.00 3.6 KZIKb2 6.00 0 10.70 7.2 CCBNb11 6.00 0 9.00 9.4 HSBKb11 6.00 0 7.75 9.7 BTASb3 6.00 -2.00 10.70 7.3 KZIKb3 6.00 0 9.90 7.7 CCBNb4 6.00 -2.24 10.00 5.2 CCBNb9 6.00 -1.75 7.50 9.1 KKGBb4 6.00 0 7.50 8.7 KKGBb5 6.00 0 7.50 9.1 KARMb2 5.50 0 10.90 2.4 KZIKb6 5.20 0 9.29 4.7 KZIKb7 5.20 +0.20 9.00 5.2 KZIKb5 5.00 0 9.29 2.7 KZIKb10 4.50 0 5.69 3.6 KZIKb9 4.00 0 4.90 1.6 -------------------------------------------------- Instruments, indexed on devaluation rate of tenge against USD -------------------------------------------------- TEBNb2 14.00 -1.00 11.00 2.1 BTASb1 10.00 +0.42 12.00 2.6 ASBNb1 9.36 +0.92 9.00 3.4 BTASb2 9.21 0 9.00 3.8 NRBNb2 9.00 -0.51 9.00 4.9 VTBNb1 9.00 0 9.00 0.2 HSBKb 8.75 -0.25 11.80 0.9 ATFBb2 8.00 0 9.00 0.4 HSBKb2 7.50 -1.50 8.00 0.8 KKGBb2 7.25 0 8.00 3.4 BRKZb1 6.55 -0.10 8.50 0.6 KZAPb1 6.50 -1.99 8.50 0.7 ART060.004 6.50 0 8.50 1.8 AST048.006 6.00 0 8.50 0.9 ARU060.003 3.50 0 8.60 0.2 AST048.005 1.10 +0.40 8.50 0.2 -------------------------------------------------- Instruments, indexed on devaluation rate of tenge against USD with protection from strengthening of tenge against USD -------------------------------------------------- KZNHb2 9.50 0 10.00 3.6 PDESb1 9.00 0 9.00 4.4 CCBNb2 8.50 +1.50 10.00 2.7 CSBNb3 8.50 0 8.75 4.4 ASBNb2 8.47 +0.97 8.50 0.3 CSBNb2 8.10 0 9.50 3.8 TEBNb3 8.00 0 9.00 6.2 ROSAb1 8.00 0 11.00 0.7 RGBRb3 7.50 -0.60 10.00 1.5 MREKb1 7.50 0 13.00 0.7 KZTCb1 7.39 +0.02 8.00 4.0 CHFMb1 7.00 0 10.00 0.5 KZPSb1 6.90 0 8.00 1.8 ASFIb3 6.60 0 7.00 2.3 -------------------------------------------------- Instruments, indexed on devaluation rate of tenge against USD and on inflation rate -------------------------------------------------- US_MER_e1 8.02 -0.08 9.16 14.5 JGOKb2 7.00 0 8.00 6.7 -------------------------------------------------- Non-indexed instruments, denominated in foreign currencies -------------------------------------------------- BTASe3 6.97 -0.12 7.88 3.9 KKGBe5 6.86 0 7.88 7.7 RU_02_3003 6.78 -0.02 5.00 23.7 BRKZe4 6.70 -0.02 6.00 19.7 KKGBe4 6.47 0 8.50 6.7 RU_01_2806 6.45 -0.07 12.75 21.9 BRKZe3 6.41 -0.07 6.50 13.9 ATFBe4 6.25 0 8.13 4.3 BRKZe2 6.03 -0.17 7.38 7.3 KKGBe2 6.00 0 11.00 1.4 KKGBe6 5.64 -0.01 7.00 3.3 ATFBe2 5.50 0 8.88 3.3 ATFBe1 5.50 0 8.50 0.8 HSBKe1 5.50 0 8.13 3.2 BTASe2 5.11 -0.11 10.00 0.8 BRKZe1 5.11 -0.16 7.13 1.2 IFO bonds 4.97 -0.03 4.38-5.50 6.1-7.3 KKGBe3 4.00 0 10.13 0.8 -------------------------------------------------- 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). Speed of devaluation of tenge against dollar at weighted average rate of the main session of KASE for the analyzed period is estimated at 44.1% 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. [2006-07-27]