Issue, circulation and repayment terms of the first issue bonds of OJSC "KEGOC" (Kazakhstan)

/IRBIS, June 27, 00/ - As it was informed earlier, by the decision of the Exchange council of Kazakhstan stock exchange (KASE), dated June 23, 2000, discounted bonds of OJSC "KEGOC" (Astana) were entered into official list of securities of the Exchange under category "A". GENERAL INFORMATION OF THE BOND ISSUE Issue registration date: June 13, 2000 Type of the securities: discounted bonds, indexed by the change in the exchange rate of tenge to U.S. dollar National identification number: KZ73LAIVAA09 KASE trade code: KEGCb Face value, USD: 100.00 Issue volume, USD: 2,500,000.00 Number of bonds: 25,000 The issuer's register is maintained by LLP "Kazregistr" (Almaty), the license #0406200022 of the National securities commission of Kazakhstan issued on August 3, 1999. The issue terms do not contain norms that may discriminate or limit the rights of the owners to transfer (alienate) the securities. OFFERING AND REPAYMENT TERMS OF THE BONDS Offering and circulation of the bonds begins on August 1, 2000. Offering will last 80 days. Circulation term is 91 days from the time the offering began (Oct.31, 00). Circulation of the bonds will end 5 business days before the maturity date. The bonds are repaid at their face values on the 91st day from the date the circulation started. If the maturity date happens to be a week-end then the owners of the bonds will receive the payments on the first business day after the week-end. All repayments are to be made in tenge to U.S. dollar exchange rate of the National Bank of Kazakhstan, effective on the payment date. The owner of the bonds will receive an income equal to the difference between discounted value of the purchase and the repayment face value of the bonds. FUND RAISING GOALS The money, raised by the issue of the bonds, will be used to finance the main production of OJSC "KEGOC" to conduct major overhaul under the most favorable climatic conditions, as well as to purchase the equipment that prevents emergency situations in the network and lowers the losses of neglected electricity.