Results of Bayan-Sulu OJSC (Kazakhstan) in Q1 of 2001

/KASE, May 11, 01/ - Bayan-Sulu OJSC (Kostanai), in compliance with the listing requirements, provided the KASE with its financial statements for the first quarter of 2001: balance sheet, income statement. By the data of the issuer following are the results of the company during reporting period (in th. KZT unless otherwise specified): -------------------------------------------------------------- As of As of Change, Ratio Apr.1 '00 Apr.1 '01 % ------------------------------- --------- --------- ------- Authorized capital (issued) 1,000,000 1,000,000 0 Authorized capital (paid) 553,172 553,172 0 Shareholders' equity 554,978 581,169 +4.7 Total assets 803,502 892,307 +11.1 Net working capital 198,451 236,839 +19.3 Accounts receivable 204,300 291,607 +42.7 Accounts payable 198,365 261,415 +31.8 Sales 244,165 256,152 +4.9 Cost of goods sold 206,125 232,555 +12.8 Net income (loss) of the period 15,336 5,336 -65.2 Book value of a share, KZT 150.49 157.59 +4.7 -------------------------------------------------------------- Compared to similar period of year 2000 growth took place in: - shareholders' equity of the company by KZT26.2 mln as a result of a KZT15.3 mln increase in undistributed income, with a decrease in uncovered loss of previous years by KZT11.4 mln and fixed assets re- evaluation fund by KZT0.5 mln; - assets - by KZT88.8 mln; - liabilities - by KZT62.6 mln; - sales - by KZT12.0 mln - cost of goods sold - by KZT26.4 mln; - expenses of the period - by KZT3.3 mln. By the results of the first quarter of 2001, the company has incurred KZT1.2 mln loss. While, income from secondary activities increased by KZT2.8 mln, at KZT6.9 mln. As a result, in 3 months of this year Bayan-Sulu OJSC receive a net income of KZT5.3 mln, which is by KZT10.0 mln, or 65.2% less than it received in similar period of last year. Common shares (KZ1C24121211, trade code - BSUL) of Bayan-Sulu OJSC were admitted into the official lists of the KASE under category "B" on August 12, 1998. As of May 11, 2001, market capitalization of Bayan-Sulu OJSC is estimated by the KASE at $1.3 mln. Primary activities of the company - production and selling confectionery.