"Kazakhtelecom" informed of dividend payments for year 1998

/IRBIS, Sept.02, 99/ - At annual stockholders General meeting of "KAZAKHTELECOM" (Almaty, Kazakhstan), held on August 31, 99, it was decided to pay out dividends for year 1998 at 30% of stock's par value. The meeting set the beginning date for dividend payments - December 31, 99, and the date when all dividends will be paid - April 01, 2000. December 31, 99 was set as the final date to register preferred stock holders entitled to receive dividends. By the decision of the meeting the registrar for "KAZAKHTELECOM" was ordered to have the register of preferred stock holders who entitled to receive dividends in 1998 ready at midnight of December 31, 99 and submit it for payments to payment agent of "KAZAKHTELECOM", or to the company itself if such agent is unavailable. At annual General meeting of stockholders a hearing was held and audited financial reports of "KAZAKHTELECOM" for 1998 was adopted. "Deloitte & Touche" (Almaty, Kazakhstan, major founder "Deloitte Touche Thomatsu International", Houston, USA) was appointed as an auditor of "KAZAKHTELECOM" for 1999 - 2000. As the representative of "KAZAKHTELECOM" informed KASE, the meeting did not consider voluntary conversion of preferred stocks into common stocks and restructuring the company's issue. Information given above is based on the decision project of an annual General meeting of stockholders of "KAZAKHTELECOM" copy of which the agency possess and on clarifications from company representatives regarding actual decisions made. According to listing requirements official documentation on the materials of the meeting will be delivered to KASE shortly.