/IRBIS, 11.08.99/ - Following are the results of the trades with internal state securities at Kazakhstan stock exchange by taking into account the quotations:

Yield to Maturity, % APR Days ------------------------ Volume, till average best best mln Currency maturity on deals offer demand tenge

-------- -------- -------- -------- ------ --------
KZT             8                     9.12
KZT             9                     9.32
KZT            16                    12.58
KZT            22                    15.03
KZT            23                    15.02
KZT            29            *12.78
-------- -------- -------- -------- ------ --------
USD            15              7.06
USD            43     8.21                  100.390
USD            71     8.34     7.97         298.768
USD            78     8.36     7.20           0.882
-------- -------- -------- -------- ------ --------
TOTAL                                       400.040

* MEOKAM, full yield to maturity is calculated by taking into account the number of days till the nearest coupon payment.

Yield of the state securities nominated in foreign currency is calculated using the official exchange rate of the National Bank on the day of the operation (132.00 tenge per dollar).