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

/IRBIS, Aug. 07, 00/ -By the decision of the Exchange Council of Kazakhstan Stock Exchange (KASE), dated Aug. 07, 2000, registered coupon bonds of TEMIRBANK OJSC (Almaty) were admitted to the official list of KASE securities under category "A". GENERAL INFORMATION OF THE BOND ISSUE Issue registration date: July 31, 2000 Type of the securities: coupon bonds, indexed by the change in the exchange rate of tenge to U.S. dollar National identification number: KZ75KAMJ8A57 Face value, USD: 100.00 Issue volume, USD: 5,000,000.00 Number of bonds: 50,000 Interest: at the first year - 11% APR, next years according to the decision of Banks Board depending on market conditions, nevertheless not less than 5% APR Coupon type: Semi-annual Interest payment day: twice at year, Feb. 19 and Aug. 19 The issuer's register is maintained by Kazregistr LLP (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. BONDS FLOATATION AND REDEMPTION TERMS Floatation and circulation term of the bonds - after 20 calendar days from the date they were registered or since Aug. 19, 2000. Flotation period of bonds is one year from the date of floatation. Redemption date - Aug. 19, 2005. Circulation date - 5 years. The payments for the bonds are to be made in tenges at weighted average rate of the KASE, effective on the payment date. Interest repayments will be executed: - considering 360/30 time base (360 days in year, 30 days in month) twice a year after 6, 12, 18, 24, 30, 36, 42, 48, 54, and 60 months starting form date of circulation; - in tenge at weighted average rate of the KASE, effective on the payment date; - considering persons who bought bank bonds not later than 30 days to redemption date. Bonds floatation rules and conditions consist of following. Annually not later than 20 calendar days before the end of next circulation year, the bank announces interest rate through one of the regular issues, which are approved by Decision of National Securities Commission #79 dated Apr. 07 and #96 dated May 4, 2000. In case if interest rate is not suitable to bonds holder, he could apply for selling of bonds to the bank at nominal price. In the first day of a next year, banks repurchase bonds at nominal price at weighted average rate of KASE, effective on the payment date. Bonds redemption will be executed at nominal price simultaneously with repayment of last coupon in tenge at weighted average rate of KASE, set on morning session. Money will be transferred to a holder's account registered in holders-registrar before 10 days to redemption day. Special conditions: - bank could repurchase bonds ahead of schedule at current market or agreed price if mutual agreement will be reached; - in case if date of coupon payment, repurchase or redemption date fall at holiday the payment will be conducted on the next business day. The bonds holder does not have right to demand compensation for a such kind of delays. FUND RAISING GOALS The raised money will be directed to broadening of banking services and trade credit expansion.