Shareholders of OJSC "Temirbank" (Kazakhstan) have approved the issue terms of the bonds

/KASE, June 13, 00/ - According to listing requirements, OJSC "Temirbank" (Almaty, official list of securities, category "A") provided the KASE with the resolution of the shareholders general meeting "On the issue of the bank's own bonds". At the meeting, which was held on April 28, 2000, the shareholders of OJSC "Temirbank" adopted a resolution to issue the bank's bonds. Based on presented documents, the bank intends to register 5,000,000 U.S. dollar bond issue. The issue is to consist of 50,000 inscribed coupon bonds with 100 U.S. dollar face value and 5 year circulation term. According to the issue terms set forth in the resolution, coupon (interest) rate of the bonds will equal 11% APR in their first year of circulation, and in subsequent years - by the decision of the bank's Board depending on the market situation, but not less than 5% APR. Coupons are to be paid using 360/30 time basis semiannually, in tenge, at weighted average rate of the tenge against the U.S. dollar, that is to settle at the morning trade session of the KASE. The bonds are planned to be placed within a year from the circulation beginning date.