Shares of "Bank CenterCredit" are entered in KASE official list of category "A"

/KASE, Aug.13, 99/ - On August 13 1999 by the decision of the Exchanges' Board common inscribed stocks of "Bank CenterCredit" (Almaty) were entered in KASE official list of securities of category "A". The bank began its activity in 1988 as Alma-Ata Central cooperative bank, which was reregistered in 1991 as Kazakh Central joint stock bank "Centerbank". And in 1996 it changed itself into Bank "CenterCredit". By the Government resolution of December 08 1997 #1713 "On reorganization and privatization of "Jilstroibank" bank "Centercredit" took part in and won a tender among with other banks of the second tier to find out a bank which meets the merger requirements with "Jilstroibank". The merger ended on June 26 1998 with creation of joint bank "Bank CenterCredit". State registration date of a joint bank is June 30 1998. "Bank CenterCredit" has a license issued by the National Bank for conducting bank transactions with tenge and foreign currency of April 20 1999 #248, and also a license issued by the National Securities Commission of the Republic of Kazakhstan for engaging in brokerage and dealing activities with State Securities with the right to handle clients' accounts (first category) of October 07 1997 #040110045. Since 1997 the bank participates in a "Twinning" program together with Austrian "Raiffeisen Zentralle Bank" and Irish "Bank of Ireland". These banks render consulting services to "Bank CenterCredit" aimed at improving the management to the international standards. In June of 1999 International rating agency "Tomson Bank Watch" gave "Bank CenterCredit" the long term borrowing rating of B, which is equal to country's rating, and the short term borrowing rating of LC-3. The bank has 22 subsidiaries and 8 clearing-settlement departments throughout the country, staff of 1,143 in the beginning of year; 927 at subsidiaries, 216 at Headquarters. Its international banking network includes 27 banks in 12 countries of the world. On January 01 1999 bank rendered services to 91 thousand clients, among them: 18 thousand legal entities and 73 thousand private people. "Bank CenterCredit" is a member of the program "Development of small and medium sized businesses in Kazakhstan" from Asian Bank for Development and European Bank for Reconstruction and Development. The bank is a member of: "Kazakhstan Stock Exchange", "Central Depository of State Securities", Center for bank and financial telecommunications and Bank association of the Republic of Kazakhstan. From 1994 it is connected to SWIFT international payment system. "Bank CenterCredit" has received auditing reviews of "Kazakhstanaudit" (Almaty, Kazakhstan) for 1996 and "Ernst & Young Kazakhstan" (Almaty, Kazakhstan ) for 1997-1998. On July 1999 bank's authorized capital made 1,063.34 mln tenge. According to financial reports of July 01 1999 bank has assets of 11,760.01 mln tenge (liquid assets - 1,763.96 mln, loan portfolio - 7,311.85 mln), owners' equity - 1,325.21 mln, liabilities - 10,464.80 mln (deposits - 7,791.73 mln, credits - 1,719.50 mln), profits from operating activities - 816.05 mln, net profit - 81.08 mln. Based on the documentation given to KASE, the bank's activity during last three years was profitable. From 1993 to 1998 the bank issued securities 6 times. Four of them consisted of both common and preferred stocks, and the fifth only of common stocks. Nominal value of all issued stocks is 200.00 tenge. Authorized capital based on five issues is equal to 550 mln tenge. On August 30 1998 all previous five issues were canceled and the sixth issue for an amount of 800 mln tenge was registered which consisted of 4,000,000 common stocks. On May 26 1998 an agreement on the merger was signed. By this agreement share of "Bank CenterCredit" in authorized capital of the joint bank is 78.4% or 4,169,935 stocks for an amount of 833,987,000.00 tenge, share of "Jilstroibank" is 21.6% or 1,146,760 stocks for an amount of 229,352,000.00 tenge. The merger agreement was approved on shareholders general meeting of both banks on June 18 1998. The first issue of securities of the joint bank "Bank CenterCredit" for an amount of 1,063,339,000.00 tenge was registered on October 1998. During the issue 5,316,695 common stocks (KZ1C36280419) with the nominal value of 200.00 tenge were issued. The placement ending date - April 27 1999. The report on the issue and placement was approved by the National Securities Commission of the Republic of Kazakhstan on July 02 1999. Balance sheet value of one stock is equal to 245.78 tenge on January 01 1999, on July 01 - 249.25 tenge. By the results of 1996 dividends were calculated at 32% of the stock's nominal value, in 1997 - at 25% of the nominal value, in 1998 for an amount of 71 mln tenge or 11.96 per share. Dividend payments were made according to each shareholders' proportion. Total number of shareholders of the bank equaled 373 on July 1999. Following are some of them whose share exceeds 5% of the authorized capital: "Utta" (Almaty, Kazakhstan) - 13.16%, "Nippon-Avto" (Almaty, Kazakhstan) - 12.16%, "Transkazenergo" (Almaty, Kazakhstan) - 12.06%, "Finansovo-promyshlennaya gruppa Atameken" (Almaty, Kazakhstan) - 11.36%, International fund "Integratsia" (Almaty, Kazakhstan) - 6.44%. Controlling block of shares belongs to "Informatsionno-Uchetnyi Tsentr". By the Exchanges' Board decision of June 28 1999 common inscribed stocks of "Bank CenterCredit" were allowed to circulate at the Exchange in the sector for "Non-listed securities" with the second level of access. Since entering bank's securities on the trade list of KASE two transactions have been made with them: on July 08 1999 - 100 securities at $1.13 per share and on August 10 1999 - 10 securities at $1.52 per share. Volume of the transactions has made 0.002% of the authorized capital. Trades with common inscribed stocks of "Bank CenterCredit" on official list of securities of category "A" starts from August 16 1999.