Forecasts and recommendations of analysts of IFH RESMI (Kazakhstan) for December 1, 2010

/IRBIS, December 1, 2010/ - Finance & Investment House RESMI JSC (Almaty, IFH RESMI) provided IRBIS overview of major events and their investment ideas and projections for December 1, 2010. Analysts of IFH RESMI give attention to the following to the important events in the markets: - Hunt Power will create a new type of infrastructure REIT. Planned formation of two new infrastructures REIT, Electric Infrastructure Alliance of America and the Gas Infrastructure Alliance of America, specializing in the sectors of energy infrastructure, storage and supply of gas in the U.S. Hunt Power pioneered the idea of creating such REIT. In this regard, was sent to the appropriate letter to the Internal Revenue Service on the review of transmission of energy infrastructure assets as assets of real estate investment funds. In 2007, the company has received confirmation from the IRS. The founders of the new REIT are Hunt Power, Marubeni Corp, John Hancock Life Insurance, TIAA-CREF, OPTrust Private Markets Group. The amount of assets, which will drop the shareholders as a whole is 2.12 billion U.S. dollars. Strong demand for new systems of gas and electricity, electricity and gas distribution networks, in particular related to renewable forms of energy. Concept Development REIT, specializing in energy infrastructure, was conducted over several years. This is the first REIT in the real estate sector. The main region of the Electric Infrastructure Alliance of America and the Gas Infrastructure Alliance of America REIT will be Texas, Great Plains and south-eastern regions of the United States. Hunt Power unit will act as managers with new REIT. REIT intends to buy transmission lines of energy amounting to 2.1 billion U.S. dollars in the said territory. In consequence of these assets will lease to operators of regional gas transmission systems and gas and electricity distribution networks. The concept of the new REIT is by far the best. However, it is likely that the regional operators of gas and electricity transmission, electricity and gas distribution networks simply will not agree to sell their assets, as in the first place, they later would still have to rent them, and secondly, they are so rent out some of their assets to smaller operators. Thus, analysts of IFD "RESMI" believe in what the new REIT will have us to build transmission infrastructure assets. However, one can not deny the fact that such property is the most attractive because of growing demand from regional and small operators. Analysts of IFH RESMI give the following advice for investors in securities of issuers in Kazakhstan: -------------------------------------------------------------------------- Issuer Last price Predicted price* Up/down from Target RSI. Current price price** %*** ------------------ ---------- ---------------- ------------- ------- ----- Kazkommertsbak 437 796 82.2% n/a 51.67 Halyk bank 350 409 16.9% 408 52.82 Bank Center Credit 585 1,218 108.4% 1,007 49.94 RD KMG 17,001 24,895 46.4% 22,525 56.22 Kazkhtelekom 17,200 24,398 41.8% 27,611 67.67 -------------------------------------------------------------------------- Fundamental evaluation IFH RESMI for 12 months (weekly review) ** Target according to the consensus forecast of analysts surveyed by Bloomberg *** Relative strength index - an indicator of technical analysis. determines strength of trend and likelihood of change. Overbought / oversold - when RSI indicator value is closer to 100% / 0%. - Cost of common shares Kazkommertsbank assessment IFD "RESMI" will cost no less than KZT796 per share by the end of 2010; - Halyk Savings Bank of Kazakhstan is estimated IFD "RESMI" as the most promising in terms of business development financial institution in Kazakhstan. Analysts see the growth of the bank's shares up to KZT409 per share; - Shares of Bank CenterCredit in the long term analysts IFD "RESMI" about the outlook for growth in securities of the bank to the level of 1.230 m.; - Stocks of Kazakhtelecom are looking most attractive for investment in the long term. Analysts IFD "RESMI" recommend buying simple shareholders of the issuer. - The updated target price of shares of JSC Exploration Production KMG is KZT24.895 per share. The given material has exclusively information character and is not the offer or recommendation to make any transactions with the stocks. Agency Irbis doesn't take responsibility for the opinions which are in given material. [2010-12-01]