Depositary receipts of KAZKOMMERTSBANK (Kazakhstan) were quoted in London after September, 1998

/IRBIS, Sep.24, 99/ - September 23 the IRBIS agency has published the message concerning inclusion GDR KAZKOMMERTSBANK (Almaty, official list KASE, category "A") in listing of the London Stock Exchange. In the message was specified, that since September, 1998 the quoting of these securities was terminated in the market of Great Britain. Andrey Tolochenko, employee of KAZKOMMERTSBANK refuted today the given information and explained the reasons of absence of data about quoting. Till September, 1998 the bank's depository receipt were quoted in the computer-based quoted system of the London Stock Exchange - SEAQ (Stock Exchange Automated Quotation System). For it, there should be at least two market makers- the investment institute, which obliged to quote these securities, to make their purchase and sale in the stated of Exchange volume. Before the Russian financial crisis ING-Barings and Merrill Lynch were such KAZKOMMERTSBANK GDR market makers. After crisis Merrill Lynch has preferred to refuse operations with GDR of the Kazakhstan Bank. Nevertheless, another partner of KAZKOMMERTSBANK - ING-Barings - has not stopped quoting the receipts in the Great Britain interbank market. Since September, 1998 these quotations were not exhibited in the trade and information systems used all over the world, and the information on them was accessible only at direct contact with ING-Barings. Andrey Tolochenko has told also, that the volumes of the transactions with KAZKOMMERTSBANK GDR in the Great Britain interbank market were on a level with turn-over in Germany and Turkey. Depositary receipts of KAZKOMMERTSBANK are traded on the Exchanges of Germany today more actively then securities of any other Kazakhstan emitters.