Shares of OJSC "Almaty Kus" (Kazakhstan) are entered into KASE list of securities under category "A"

/KASE, Apr.4, 00/ - By the decision of the Board of Kazakhstan stock exchange (KASE) #28/0 of April 4, 2000, and based on the decision of the Exchange council of KASE of April 3, 2000, common inscribed (KZ1C31690513, trade code ALKS) and preferred inscribed (KZ1P31690518, trade code ALKSp) shares of Open joint stock company "Almaty Kus" (Chapaevo, Almaty region) were entered into securities official list of the Exchange under category "A". trades in these shares will be opened at KASE from May 1, 2000. Primary activities of OJSC "Almaty Kus" - production and sale of poultry, leasing. Main product - commodity and pedigree eggs, pedigree chickens, egg powder and poultry meat. Announced and paid authorized capital of OJSC "Almaty Kus" - KZT700 mln. The company has registered a single issue of shares for KZT700 mln, which contained 64,867,490 common inscribed and 5,132,510 preferred inscribed shares with KZT10 face value. Issue registration date - March 25, 1998. Offering is private. Offering end date - July 9, 1998. The shareholders register is maintained by LLP "Reestr-Service" (license #200500070 to act as registrar, dated March 6, 1997). Incorporation documents of the issuer do not contain norms that may discriminate or limit the rights of the owners of the securities issued by him to transfer (expropriate) them. By the Charter of the company, size, sources and payment order of the dividends by the results of the year are approved by shareholders general meeting based on the proposal of the Board of directors. By the decision of the shareholders general meeting of March 16, 1998, dividends to preferred shares were set at 10% of net income. According to the decision of the extraordinary shareholders general meeting of March 17, 1999, by the results of 1998 dividends were charged and paid for a total of KZT340 th. Size of dividends to preferred shares by 1999 results will be determined after the shareholders general meeting is held. Based on the extract from the register of the securities owners of March 23, 2000, total number of OJSC "Almaty Kus" shareholders is 2,117. Only CJSC "Concern Seimar" (Almaty, 60,131,963 shares, 85.90% of authorized capital) owns more than 5% of voting shares of the company. Besides other documents required by the listing, OJSC "Almaty Kus" presented KASE with its balance sheets, income and cash flow statements for 1998-1999 certified by independent auditing company "Arthur Andersen" (Almaty, Kazakhstan). According to auditing report, financial statements give precise and reliable picture of the financial situation of the company as of December 31, 1998 and 1999, its results and cash flows for the year ended December 31, 1999, and for the period from March 13 (foundation date) through December 31, 1998 based on the Regulations of International Accounting Standards published by International Accounting Committee. By 1998 and 1999 results the company is profitable, which is confirmed by auditing report. When making a decision on entering the shares of OJSC "Almaty Kus" into KASE official list of securities under category "A" the Exchange council took into consideration complete compliance of the issuer with the listing requirements, as well as following positive factors. - The company is an intensively growing structure, which is proved by the growth in its sales from Dec.31, 98 through Dec.31, 99 by 150% and growth in net income for the same period by 227% based on the data of the issuer and 527% based on the data of the auditor. - Undistributed income of OJSC "Almaty Kus" grew KZT30.78 mln, or 595% relative to 1998. - Based on the documents presented by the company, it plans additional issue of shares for KZT340 mln tenge, or 49% of existing authorized capital. - The products of the company are oriented to domestic market and are in great demand. Both short term and long term development strategies of the company are aimed at the expansion and strengthening of its positions on Kazakhstani market as a result of intensive production and high quality of products while keeping costs low. - Principles of segmenting certain parts of the production and sales allows the company to achieve the most effective and optimal business structure. The listing commission of KASE believes these factors mentioned above prove the stability of the company, which is especially important due to growing consumption of the products of domestic producers and due to the measures taken by the government to protect domestic producers (introduction of equipment imports benefits, income tax benefits, introduction of import tariffs etc) to stimulate the growth of import substitute domestic production. After entering the shares of OJSC "Almaty Kus" into KASE lists of the securities 61 private issue securities of 40 issuers and 4 state blocks of shares can be traded on the floors of the Exchange.