Complete results of MEKKAM-12 #45 offering

/IRBIS, May 5, 00/ - Today the Ministry of finance of Kazakhstan with the National Bank held the 45th auction for offering MEKKAM-12 (364 days). Announced volume of the issue is determined by the emitter at KZT500 mln. Size of satisfaction of noncompetitive applications is 50% of specified amount. Following is the complete offering data and comparison with previous similar auction (circulation starting date is not an error and based on the data of the issuer): Type of the securities MEKKAM-12 MEKKAM-12 NSIN KZ4CL0405A18 KZ4CL2604A13 KASE trade code MKM012.45 MKM012.44 IRBIS registration number 45/12 44/12 Par value, tenge 100.00 100.00 Issuance date May 5,2000 Apr.24,2000 Circulation start date May 6,2000 Apr.27,2000 Maturity date May 4,2001 Apr.26,2001 Days in circulation 364 364 Number of Primary dealers 10 (+ 4) Demand, mln KZT 759.6 (+ 634.9) WA yield on demand, % APR 17.76 (- 0.23) Planned volume, mln KZT 550.0 (+ 50.0) Actual volume, mln KZT 657.5 (+ 584.9) Cut-off price, % of par value 85.11 (+ 0.35) Weighted average price, % of par value 85.11 (+ 0.35) Maximum yield, % APR 17.50 (- 0.49) Weighted average yield, % APR 17.50 (- 0.49) Effective weighted average yield, % APR 17.50 (- 0.49) The Ministry of finance says no applications were submitted by non- residents. Abundance of free tenge and stable exchange rate of the national currency are still having positive impact on the market of initial offering of MEKKAM. As on Thursday, demand was large and "soft" in terms of price, which allowed the issuer to lower the yield of its debt significantly. The conjuncture of the market does not change principally.