Placement of the 4-th issue of Halyk Savings Bank of Kazakhstan shares

/KASE, Dec.22, 99/ - JSC "Halyk Bank of Kazakhstan (Almaty, official list of securities, category "A") according to the listing requests has granted to the Kazakhstan stock exchange (KASE) the official press release about results of the shares placement of the 4-th additional issue. In the press release is spoken that on December 01, 1999 placement of the 4-th additional issue of 6,031,666 bank' shares to the nominal sum of 603, 166 600. The solution concerning the issue and placement has been accepted at the extraordinary General Meeting of the Halyk Bank shareholders of October 29, 1999. The price of placement has been recommended by the Arthur Andersen - 4- th additional issue placement adviser and has made 141 tenge for the share. Pursuant to the Law of Republic of Kazakhstan "About joint-stock companies", each bank's shareholder has received the right of primary shares purchasing. According to the calculated norm, the shareholders, which had 5 shares of the previous issues, had the right to acquire one new issue share. 1,038 shareholders have realized this right and have acquired 720,342 shares of the 4-th issue. The rest of shares has been placed among bank shareholders, which wished to increase their share, and 5,311,324 copies of the shares have been purchased by Delta Ltd. 850,464,906 tenge received from the placement are directed to the bank capitalization. Paid-up authorized capital of Halyk Bank of Kazakhstan after 4 issues has amounted to 3.6 billion tenge. On December 10, 1999 the closed tender concerning the sale of a part of the state block of shares was held. In the result 16.7% of the authorized capital was sold to the private investors. Before the new issue placement and the tender 80% of the Halyk Bank shares belonged to the state, 10% - to the bank's investors, 10% - to the Delta Ltd. After the placement and tender the state share makes 50% of the authorized is investors - 50% a minus one share. The Halyk Bank privatization has began in 1998, it is a part of the governmental program on the bank sector re-structuring.