Mortgage organization Kazakhstan Mortgage Company reports on progress of "Affordable Home - 2020" program

/KASE, September 18, 12/ - JSC "Mortgage organization "Kazakhstan Mortgage Company" (Almaty), whose securities are officially listed at Kazakhstan Stock Exchange (KASE), today provided KASE with the following press-release: quote JSC "Mortgage organization Kazakhstan Mortgage Company" (hereinafter - JSC "MO "KMC") made first steps along the way of implementation of Program "Affordable Home - 2020" (hereinafter - Program) in direction called "Rented dwellings liable to purchase". In pursuance of the Statement of the Nation Leader, President of the Republic of Kazakhstan, N. Nazarbaev dated January 27, 2012, the government of the Republic of Kazakhstan approved a program called "Affordable Home - 2020". One of the program's directions is "Rented dwellings liable to purchase", which will be implemented by JSC "MO "KMC". Currently, for the purpose of implementing the Program of JSC "MO "KMC" subsidiaries were established - LLP "Single Payment Systems" and JSC "Kazakhstan Residential Construction Corporation" - which will carry out necessary activities in co-operation with rented apartment constructors, service providers and tenants. Due to brisk activities associated with the timely launch of direction "Rented dwellings liable to purchase" during the implementation of the Program, JSC "MO "KMC" will be aimed at construction and commissioning of rented apartments. From activities followed previously, JSC "MO "KMC" will retain the right to subsidized mortgage loans directly and through second-tier banks-partners, as well as will continue to disburse loans within the scope of "Construction of City Mortgage Dwelling for 2011-2014", launched by the Department for Housing and Housing Inspection of the city of Almaty. This activity, as before, will be implemented at the account of funds raised by way of issuing own mortgage bonds. Contact person: Katerina Tretiyakova Head of Department for Advertising and Public Affairs JSC "Mortgage organization Kazakhstan Mortgage Company" 8 (727) 344-12-22 ext. 141 8 (777) 263 15 40 unquote [2012-09-18]