Results of Mangistaumunaigas OJSC (Kazakhstan) in I half of 2000

/KASE, Oct.27, 00 / - Mangistaumunaigas OJSC (Aktau), in accordance with the listing requirements, provided the Kazakhstan Stock Exchange (KASE) with its financial statements for I half of 2000: balance sheet, and income statement. Following are the results of the issuer in I half of 2000 (in th. KZT): ------------------------------------------------------------- As of As of Change, Indicator July 1,99 July 1,00 % ------------------------------------------------------------- Authorized capital 10,894,602 10,894,602 0 Shareholders' equity 18,949,104 23,580,601 +24.4 Total assets 37,237,680 62,630,571 +68.2 Net working capital -3,679,580 -792,624 +78.5 Accounts receivable 8,583,188 26,524,349 +209.0 Accounts payable 14,163,573 35,284,702 +149.1 Sales 12,415,592 43,508,486 +250.4 Cost of goods sold 4,528,356 16,658,005 +267.9 Net income 7,924,431 1,387,554 -471.1 Book value of one share, KZT 1,739.31 2,164.43 +24.4 ------------------------------------------------------------- Compared to similar period of 1999 growth took place in: - shareholders' equity of the company - by KZT4.6 bln, or 24.4% as a result of an increase in additional unpaid capital (re-evaluation of fixed assets) - by KZT4.1 bln, total of undistributed income - by KZT702.1 mln, with the decrease in reserve capital - by KZT152.4 mln; - assets - by KZT25.4 bln, or 68.2%, of which accounts receivable growth - KZT18.3 bln; - liabilities - by KZT20.7 bln, or 113.5%, of which accounts payable growth - KZT20.1 bln; - sales - by KZT31.1 bln, or 3.5 times; - cost of goods sold - by KZT12.1 bln, or 3.7 times; - expenses - by KZT16.4 mln, or 4.5 times, including sales expenses growth of KZT9.1 bln, or 5.2 times. Tax payments increased by KZT5.8 bln, or 4.8 times relative to similar period of last year, at KZT7.3 bln. As of July 1,00 KZT2.8 bln reserve on liquidation of oil and gas equipment and restoration of the land was created. As a result, net income of the company OJSC received during the I half of the year 2000 equaled KZT1.1 bln, which is by KZT6.5 bln, or 5.7 times less than in similar period of last year. Common inscribed (KZ1C05020218, trade code - MMGZ) and preferred inscribed (KZ1P05020213, trade code - MMGZp) shares of Mangistaumunaigas OJSC were entered into additional list of the Exchange on October 16, 1997. By the decision of the Exchange council, dated July 14, 1998, the shares were transferred to official list of the KASE securities under category "B". Primary activities of the company - extraction and transportation of oil and gas; processing of oil, sales of oil and oil products, exploration and development of oil and gas deposit sites.