/KASE, Nov.09, 99, Galina Tsaluk/ - According to the listing requirements JSC "Aluminy Kasakhstana" (Pavlodar, official list of securities, category "B") provided Kazakhstan Stock Exchange (KASE) with financial reports for Oct.01, 99: balance, income statement and statement of cash flow.

Following are the results of the emitter for the first half of 1999. All figures are given in tenges and in comparison with the first nine months of 1998.

9 months of 9 months of 1998, '000, 1999, '000, Increase / Indicator million tenges million tenges decrease., %

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Authorized announced capital       5,827.175       5,834.811          +0.1
Authorized paid-up capital         5,827.175       5,617.003          -3.6
Shareholders equity                7,325.870      10,065.234         +37.4
Total assets                      12,563.797      16,993.502         +35.3
Net working capital                3,183.510       4,394.161         +38.0
Accounts receivable (net)          2,555.237       3,910.292         +53.0
Accounts payable                   3,459.790       2,148.489         -37.9
Volume of sales (services 
offered)                          10,402.259      12,713.491         +22.2
Cost of goods sold (services 
offered)                           8,500.081       8,837.566          +4.0
Net income (loss)                    481.275       3,367.434        +599.7
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Authorized paid-up capital increased by 7.64 million or by 0.1% in result of bringing in of property by the state for increase of its share in the authorized capital). At the same time the paid-up part the authorized capital has decreased by 217.81 million or by 3.6%, because part of the shares (2,178,080 shares) is still withdrawn from the circulation. Nevertheless the shareholders equity of the company has grown by 2,739.36 million or by 37.4% as a result of the income increase by 2,981.60 million and the reserve capital increase by 27.04 million, at reduction of fund of permanent assets revaluation by 59.10 million.

The book value per share increased by 53.47 tenge or by 42.5% to 179.19 tenge per share. It was stipulated by increase in shareholders equity at decrease in number of shares.

Assets of Aluminy Kasakhsatna has increased by 4,429.71 million or by 35.3%. Long-term assets increased by 1,698.27 or by 28.8%, including: - long-term investments - by 322.07 million;
- volume of incomplete construction - by 642.93 million;
- long-term investments - by 725.94 million;
- intangible assets - by 7.33 million.

Current assets increased by 2,731.44 million or by 41.0%, including: - inventory holdings - by 656.35 million;
- accounts payable - by 1,377.77 million;
- money - by 700.56 million (cash increased by 1,060.10 million at decrease in short-term investments by 359.54 million);
at decrease future expenses by 3.24 million.

Total liabilities has increased by 1,690.34 million or by 32.3%.

Long-term liabilities has increased by 169.55 million or by 9.6%. Increase in current liabilities has made 1,520.79 million or 43.8%, including increase in: - short-term credits - by 1,400.00 million;
- future incomes - by 1,432.09 million;
- short-term accounts payable - by 1,311.30 million.

Volume of sales has increased by 2,311.23 million or by 22.2%.

Production cost has increased by 337.49 million or by 4.0%. Total expenses has decreased by 9.73 million or by 0.8%. Non-operating incomes has increasing by 1,978.78 million or 17 times. Income tax payment has increased by 1,076.10 or almost 4 times.

In result the net income of ALUMINY KAZAKHSTANA has made 3,367.43 million, which is by 2,886.16 million or almost 7 times more than in the first nine months of 1998.