Finance Ministry of Kazakhstan had offered at the repeated auction on November 22 3,167.0 copies of MEOKAM-108 of the first issue (KZK2KY090019) for a total of KZT3,175.5 m. under 6.20 - 6.50% APR

/KASE, November 22, 06/ - Kazakhstan stock exchange (KASE) informs that on November 22 of 2006 the repeated auction on re-offering of government long-term savings treasury obligations of Ministry of finance of Republic of Kazakhstan (MEOKAM) was held in KASE's trade system by the given bellow terms (Almaty time) ISSUE PARAMETERS: ------------------------------------------ ----------------------------------- Type of security: MEOKM-108 National identification number: KZK2KY090019 Issue ordinal number: 1 Trade symbol on KASE: MOM108.001 Face value, KZT: 1,000.00 Bonds volume in circulation, 217,000 copies: Circulation start date: October 15, 2006 Maturity date: October 11, 2012 Circulation period: 9 years (3,285 days) Coupon rate: 6.20% APR Periodicity of coupon payment: twice a year Schedule of coupon payment (structure/fact): 7 April 13, 2007 / April 13,2007 8 October 13, 2007 / October 15, 2007 9 April 12, 2008 / April 14, 2008 10 October 12, 2008 / October 13, 2008 11 April 12, 2009 / April 13, 2009 12 October 12, 2009 / October 12, 2009 13 April 12, 2010 / April 12, 2010 14 October 12, 2010 / October 12, 2010 15 April 12, 2011 / April 12, 2011 16 October 12, 2011 / October 12, 2011 17 April 11, 2012 / April 11, 2012 18 October 11, 2012 / October 11, 2012 Time basis actual/365 ------------------------------------------ ----------------------------------- OFFERING TERMS: ------------------------------------------ ----------------------------------- Announced volume of offering, securities: 3,663,800* Trades object: bonds' net price Amount of days 2.150 till maturity (duration) Stake of satisfied market bids. % 30 Bids submission method: closed Bids acceptance time: 09:00 - 11:00 Bids confirmation time: 09:00 - 11:30 (Т+0) Cut-off time: until 15:00 (Т+0) Bids satisfaction method: Limited (competitive) At claimed price Market (uncompetitive) At weighted average price Payment date: November 22, 2006 Payment time: until 15:00 (Т+0) Accumulated interest by payment date, %: 0, 679452054794521 ------------------------------------------ ----------------------------------- *3 663,8 bn. tenge at face value DEMAND PARAMETERS: ------------------------------------------ ----------------------------------- Number of participants - primary 15 dealers: Number of bids submitted (total / 86 / 43 active): Including: - limited: 84 / 41 - market: 2 / 2 Volume of active bids*, securities: 26,407,000 Volume of active bids*, KZT 25,217,988,284.09 Demand to offering, %: 720.8 Clean price for the given limited bids, % APR (all / active): minimal: 89.5033 / 89.5033 maximum: 100.0000 / 100.0000 weighted average: 95.1649 / 94.8179 Yield on submitted limited bids, % APR (all/active): minimal: 6.1986 / 6.1986 maximum: 8.5000 / 8.5000 weighted average: 7.0792 / 7.2908 ------------------------------------------------------------------------------ * active bids- bids not annulled by trades participants by the moment of bids submission period expiration, including those, confirmed by participants of Confirmation system; the amount according to market bids is calculated by weighted price of all active limited bids RESULTS OF OFFERING ------------------------------------------------------------------------------ Volume of satisfied bids, securities: 3,167,000 Volume of satisfied bids, tenge: 3,175,490,046.55 Clean price in satisfied bids, %: minimal: 98.5483 maximum: 100.0000 weighted average: 99.5886 Yield of bonds to maturity for purchasers, %, APR: minimal: 6.1986 maximum: 6.5000 weighted average: 6.2829 ------------------------------------------------------------------------------ In the total volume 10.4 of active bids came to stake of subjects of pension market, 68.1 - to Kazakhstan banks, 5.0% - to their clients, to the stake of clients of broker-dealer companies - 16.5%. By the results of specialized trades 15.8% of bonds were redeemed by pension funds for the account of pension assets, 42.6% - by Kazakhstan banks, 41.6% - by clients of banks. According to Central depositary of securities JSC (Almaty), all deals on МЕОКАМ-108 of the first issue re-offering by the end of settlements have been executed by results of the trade. Taking into account the earlier conducted offerings, the total volume of МЕОКАМ-108 (KZK2KY090019) made 3,384,000 bonds for amount of face value at KZT3,384,000,000.00 The repeated auction was conducted by the method of specialized trades. MEOKAM were issued in compliance with Rules of circulation and maturity of government treasury obligations of the Republic of Kazakhstan with term of circulation two years and more, approved by Resolution of Government of Kazakhstan dated June 10, 1997 #945 and with corrections, included by the resolution of the Government of Republic of Kazakhstan dated April 2, 2001 #437. МЕОКАМ-108 (KZK2KY090019) are circulating at the secondary market of KASE under specified in the table code. Bonds are quoted in KASE's trade system in clean prices. [2006-11-22]