/IRBIS, June 1, 2010/ - At June 1 2010, the amount of public debt of Kazakhstan, issued in the form of government securities (GSB), together with the service (the sum of coupon payments) amounted at current prices KZT2,845.7 billion or the equivalent of 19,424.6 million U.S. dollars rate of KZT146.78 per dollar. That was the conclusion IRBIS experts in the analysis of their own databases. In conducting this analysis, the amount of future payments on MEUZHKAM and MUIKAM in calculating the consumer price index, which was recorded for the period from May 2008 to June 2010.

From May 1 to 31, 2010 the total debt increased by KZT60.6 billion (-5.4%) or in dollar terms - to $399.1 million (-5.2%). In February 2010, total debt increased by KZT219.0 billion (8.3%) or in dollar terms - to $1,538.2 million (+8.6%).

The following table provides more detailed information in KZT.

------------------------------------------------------------------------
                                  Sum and structure of debt
                               ----------------------------
                    currency*     on 31.05.10   on 30.04.10
                    ---------- --------------   -----------      changes
                                                                    over
                                                              the period
                    issue Ser-  In bn. share,        In bn. ------------
Issuer                    vice     KZT      %           KZT bn. KZT    %
------------------- ----- ---- ------- ------ - ----------- ------- ----
National bank       KZT   KZT  1,055.9   37.1 ,     1,116.5   -60.6 -5.4
------------------- ----- ---- ------- ------ - ----------- ------- ----
Ministry of Finance            1,789.9   62.9 ,     1,741.9   +47.9 +2.8
Including nominal   KZT   KZT  1,485.5   52.2       1,446.1   +39.3 +2.7
Including service   KZT   KZT    304.4   10.7         295.8    +8.6 +2.9
------------------- ----- ---- ------- ------ - ----------- ------- ----
Total                          2,845.7  100.0       2,858.4   -12.7 -0.4
Including nominal              2,541.3   89.3       2,562.6   -21.3 -0.8
Including service                304.4   10.7         295.8    +8.6 +2.9
--------------------------------------------- - ------------------------
* USD as the currency of issue stated in the case when the nominal bond is
  expressed in KZT, but the paper is indexed by the level of changes in exchange
  rate of KZT to the USD.

Score equivalents at May 31, 2010 held at the rate of KZT146.50 per U.S. dollar on April 30, 2010 - at the rate of 146.78, so the data in the table reflect the dynamic, evolving others to and from exchange rate differences.

* Similar data in U.S. dollars as follows.

--------------------------------------------------------------------------
                                 Sum and structure of debt
                               ---------------------------
                    currency*      On 31.05.10 on 30.04.10
                    ---------- --------------- -----------         changes
                                                           over the period
                                                           over the period
                    issue Ser-  In mln. share,     In mln. ---------------
Issuer                    vice      USD      %         USD  mln. USD     %
------------------- ----- ---- -------- ------ ----------- --------- -----
National bank       KZT   KZT   7,207.2   37.1     7,606.3    -399.1  -5.2
------------------- ----- ---- -------- ------ ----------- --------- -----
Ministry of Finance            12,217.4   62.9    11,867.5    +349.9  +2.9
Including nominal   KZT   KZT  10,139.7   52.2     9,871.3    +268.5  +2.7
Including service   KZT   KZT   2,077.7   10.7     2,018.9     +58.7  +2.9
------------------- ----- ---- -------- ------ ----------- --------- -----
Total                          19,424.6  100.0    19,473.9     -49.3  -0.3
Including nominal              17,347.0   89.3    17,477.6    -130.7  -0.7
Including service               2,077.7   10.7     2,018.9     +58.7  +2.9
--------------------------------------------------------------------------
* USD as the currency of issue stated in the case when the nominal bond is
  expressed in Tenge, but the paper is indexed by the level of changes in exchange
  rate of tenge to the dollar.

According to data available to the IRBIS output GS of the National Bank of Kazakhstan in May 2010 on the amounts of placement was KZT268,959.7 million (in April - KZT376,309.0 million). In this case the issuer redeemed notes in the amount KZT330,237.0 million (in February - KZT230,295.5 million). Thus, the March balance of net borrowing of National Bank on the government securities market amounted to plus KZT61,2777.3 million. The corresponding figure in February is plus KZT146,013.5 million (the minus sign in the exponent of balance means that the amount was withdrawn from the budget of the issuer and investors have stayed, "plus" - by the amount the issuer has taken more than repaid).

Ministry of Finance of the Republic of Kazakhstan has attracted over the period KZT70,907.7 million (in April - KZT67,980.4 million) and made a payment of a nominal value of bonds and the coupon for KZT44,549.7 million (in April - KZT6,717.3 million). The March surplus net borrowing Ministry of Finance estimated IRBIS plus KZT26,357.9 million (in April - plus KZT61,263.1 million).

In May 2010 the overall balance of net borrowing of Kazakhstan issuers GS IRBIS estimated at plus KZT34,919.3 million. The corresponding figure in April is plus KZT207,276.6 million.

Agency IRBIS draws the attention of subscribers and the media that the above figures are not official statistics and were obtained from the analysis of the information contained in the databases of agencies on the primary market of government securities. As part of the internal bonds Base Agency reconciled data provided IRBIS of the Central Securities Depository JSC (Almaty).

[2010-06-01]