KAZKOMMERTSBANK (Kazakhstan) has specified parameters of the bonds issue

/IRBIS, Aug.20, 99/ - As it was informed before by IRBIS, NSC (National Securities Commission) of Kazakhstan by the decree #399 from August 11, 1999 registered the first issue of the bonds of JSC "KAZKOMMERTSBANK" totalling $30 million. The bank, in concert with the National Securities Commission, distributed an information message about the new issue, were the main parameters were specified. According to the message, the issue of the bonds was listed in the state register of securities under the number A7. The National identification number - KZ272KA7B9A11; nominal price - $100 per share; coupon rate - 10% p.a.; periodicity of the payment - two times a year; issue date - Sep.06, 1999; redemption date - Sept.09, 2001. The coupons yield will be paid on Mar.03, 2000; Sep.06, 2000; Mar.06, 2001; Sep.06, 2001; the issue registrar is "REGISTER - SERVICE" Co. Ltd. The bonds are issued in the non-documentary form. The interest in property is fixed by the independent registrar on the depo accounts or on the depo accounts of the nominal shareholders (central depository, the banks- custodian, and the broker companies, which have a license for the registration of the securities transactions). The bonds holders are the natural and legal persons, the residents and non-residents of Kazakhstan. The bonds circulation will start from the date of issue and will end 5 workdays before the redemption date. The bonds can be bought in the head office or in the any KASZKOMMERTSBANK\s branches. The payment will be made by the residents of Kazakhstan according to the KASE's dollar average weighted rate at the day of payment, by the non- resident of Kazakhstan - according to the current legislation. The bonds are freely circulated in the organised and in the OTC markets. The coupon income saved during the period of the bond possession is included in the bond's price the operations with the bonds in the secondary market are made according to the current legislation of Kazakhstan. The emitter pays a coupon payment two times a year, according to the rate, stipulated in the issue parameters, at the temporary rate of 360/30. The persons, who have bought the bonds not later thirty days before redemption, will have the coupon yield. The circulation of the bonds in the secondary market from the fixing date till the day of redemption (including the day of redemption) will be carried out without regard to the saved income. The coupon yield will be paid to the residents of Kazakhstan according to the KASE's tenge average weighted rate at the date of payment, and to the non- resident of Kazakhstan - accordingly to the current legislation. The tax structure of the specified tool will be determined according to the current legislation.