On December 24 auction for offering bonds of local executive body of Almaty will be held at KASE

/KASE, Dec.20, 99, official press-release of the Exchange/ - Kazakhstan stock exchange (KASE) informs that on December 24, 1999 in Trade system of KASE the auction will be held for initial offering of the bonds of local executive body of Almaty. The emitter of these securities is local executive body of Almaty city of Kazakhstan. Financial consultant of the emitter - OJSC "DB SECURITIES (KAZAKHSTAN)" (Almaty). Legal appraisal of the bond issue was carried out by White & Case (Almaty). Financial agent of the emitter is KASE. The bonds are allowed to circulate on KASE by the decision of KASE's Board on December 19, 1999. Issue, circulation and repayment procedures of the bonds are regulated by the document "Temporary procedures of issuing bonds of the local executive body of Almaty", which was approved by the resolution #1437 of the government of Kazakhstan, dated September 22, 1999. The securities being offered are discounted bonds without coupons, denominated in US dollars. Par value - 100 US dollars. Announced issue volume - 400 mln tenge. Circulation term - 1 year (364 days). Maturity date - December 25, 2000. KASE trade code - ALU012.001. National identification number (NIN) - KZ71K2512A00. All payments, related to acquiring and sale of the bonds, are made in tenge. Applications for the auction will be submitted on December 24, 1999 in Trade system of KASE from 9:00AM till noon of Almaty time. Applications can be submitted only by members of KASE of category "K" (right to participate in trades in state securities, which are allowed to circulate on the stock exchange). Investors may submit applications through their members. Submitted applications, after a cut-off, are satisfied at prices indicated in each particular application. Only competitive applications can be accepted to the auction. Payment date for the bonds purchased on the auction - December 27, 1999 till 11:00AM Almaty time. The payment is made in Kazakhstani tenges at official rate of the National Bank of Kazakhstan to US dollar set on December 24, 1999. Investors will pay for the bonds purchased on the auction through organizations, which have accounts in CJSC "Central depository of securities" (Almaty) and correspondent accounts in the National Bank of Kazakhstan. The bonds are repaid by the emitter at par value in Kazakhstani tenges at official rate of the National Bank of Kazakhstan to US dollar, effective on the date prior to maturity day. Following is the list of legal entities - members of KASE, who can participate in the auction, and through whom investors can submit their applications: CJSC "KAZKOMMERTS-ZIRAAT-INTERNATIONAL BANK"; CJSC "CITIBANK KAZAKHSTAN"; OJSC "Halyk Bank Kazakhstan"; OJSC "Bank TuranAlem"; OJSC "TexaKaBank"; OJSC "TEMIRBANK"; OJSC Bank "CenterCredit"; CJSC "Affiliated joint stock bank "ABN AMRO BANK KAZAKHSTAN"; CJSC "Eximbank Kazakhstan"; CJSC "Evraziiskii bank"; JSCOT "Almaty merchant bank"; JSCOT "Joint stock bank LARIBA BANK"; OJSC "BANK "KASPIISKII"; OJSC "International bank - Alma-Ata"; OJSC "Kazakhskii aktsionernyi agropromyshlennyi bank"; OJSC "DB SECURITIES (KAZAKHSTAN); LLP "KBS Securities"; OJSC "Kazkommerts Securities"; CJSC "Company CAIFC"; OJSC "Kazakhstanskaya finansovaya komapnya"; OJSC "FINANSOVAYA KOMPANYA GREENWICH CAPITAL MANAGEMENT"; LLP "ATERA capital"; LLP "INVESTMENT MANAGEMENT GROUP"; LLP "Dom tsennykh bumag EASTBROKERS"; LLP "PETROKAZ CAPITAL"; CJSC "GLOBAL SECURITIES (KAZAKHSTAN)"; LLP "KIB ASSET MANAGEMENT Ltd"; LLP "Kompanya R.G.Securities"; CJSC "Fondovyi service"; Republican state enterprise of postal services under the Ministry of transportation and communication of Kazakhstan. Until now, the National securities commission of Kazakhstan has not made a decision on the possibility of purchasing the bonds of local executive body of Almaty using the assets of accumulative pension funds. Additional information will be given on the decision of the commission.