Results of primary floatation of TEMIRBANK OJSC bonds of the first issue

/IRBIS, Aug. 24, 00, official press-release of the Exchange/ - Kazakhstan Stock Exchange informs that auction on primary floatation of TEMIRBANK OJSC coupon bonds (KZ75KAMJ8A57, official list of KASE securities, category "A", trade code TEBNb) was held today in the KASE trade system. Auction was held between 11:30 AM and 01:00 PM ALT. Amount raised during the auction equalled $200 th at face value. Additional floatation was announced at the end of the auction. Appointed time was set at 2:00 - 3:00 PM. Cut-off price equalled to the one set on the first auction. Amount raised at the additional floatation totalled $2,050,000 at face value. Thus, the issuer did fully float planned volume of bonds for $2.250 mln of face value. The table contains the floatation parameters and complete results of additional floatation. ------------------------------------------------------------------------------- Type of the securities Coupon bond NSIN KZ75KAMJ8A57 KASE trade code TEBNb Face value, USD 100.00 Registered issue volume, USD 5,000,000.00 Issue date Aug. 19, 2000 Circulation date July 31, 2000 Maturity date Aug. 19, 2005 Circulation period 1,822 annual put option Special conditions for bonds holders Coupon type semi-annual Coupon rate, % APR 11.00 Feb. 19 and Coupon payment dates Aug. 19 of each year ------------------------------------------------------------------------------- Floatation date Aug 24, 2000 Accumulated interest on the floatation date, % 0.15% Days to maturity 1,817 Payment date for floated bonds Aug. 24, 2000 16:00 ALT Planned volume of floatation, at face value 2,250,000.00 ------------------------------------------------------------------------------- Number of participants - KASE members 3 Number of submitted bids 16 Volume of bids in bonds 29,200 at face value, USD 2,920,000.00 amount raised, USD 2,877,133.11 amount raised, KZT 410,221,638.82 Demand at announced volume of floatation, at face value, % 129.8 Bid prices excluding accumulated interest, % of face value: minimum 94.5600 maximum 100.0000 weighted average 99.2166 ------------------------------------------------------------------------------- Number of satisfied bids 3 Actual floatation volume: bonds 22,500 at face value, USD 2,250,000.00 amount raised, USD 2,253,437.50 amount raised, KZT 321,295,118.75 Floatation price excluding accumulated interest (net), % of face value: 100.00 ------------------------------------------------------------------------------- Yield to maturity, % APR, (semi-annual, annual) at cut-off price 10.9989/11.3014 ------------------------------------------------------------------------------- These securities are paid and serviced in KZT at the weighted average exchange rate of KASE at the payment day. Considering conditions of the emission, all calculations regarding the servicing are made using 30/360 time base, accepted for processing of the same type coupon bonds auctions in KASE. Annual and semi-annual yields set on the auction are given for convenience. The yields are shown in the foreign exchange as the securities are denominated in USD. Bids' share of pension funds was 17.52%, banks - 82.48%. The cut-off procedure conducted by the issuer fundamentally changed the composition: at the actual amount of the issue, the size of satisfied bids filled by banks was 93.33%, and by pension assets management companies - 6.67%.