/KASE, using documents of the Listing Commission of KASE, July 25, 01/ - - The information is published regarding admission of Almaty Kus securities into category "A" of the official listing. The securities include bonds of the second emission and preferred shares of the third emission.

Almaty Kus OJSC is a coordinating and controlling body of production and sales activity. Coordination and control activity is implemented though direct setting of quality standards and competitive selection of leaseholders and distributors.

Leaseholders

Four poultry farms (Chapaevsk, Kaskelen, Abai, and Avat) are being leased to four independent legal entities (or leaseholders): Ak-kanat LLP, Alatau LLP, Karasai LLP and Avat Kus LLP correspondingly. The terms of contracts between lessor and leaseholders are being reviewed every half a year. The leaseholders' functions are purchasing of fodder from Almaty Kus, production and selling of eggs - a major output of the poultry farms. The leaseholders are obliged to sell only Almaty Kus production. The latter controls production process and activity of Leaseholders by setting prices and quality standards. Revenues of the Company depend on production volumes of Almaty Kus.

Production of eggs (million units) and meat (tons), sale revenues (KZT m) of leased poultry farms

----------------------------------------
                    eggs            meat
          --------------  --------------
Фабрика   volume  income  volume  income
--------  ------  ------  ------  ------
1998
------------------------------------------
Chapayev     131     566   1,145     115
Abay          30     130     211      21
Kaskelen      22      95     221      22
Avat           0       0       0       0
--------  ------  ------  ------  ------
Total:       182     791   1,577     158
--------  ------  ------  ------  ------
1999
------------------------------------------
Chapayev     118     771   1,079     135
Abay          52     340     467      58
Kaskelen      20     131     205      26
Avat           0       0       0       0
--------  ------  ------  ------  ------
Total:       190   1,242   1,751     219
--------  ------  ------  ------  ------
2000
------------------------------------------
Chapayev     129     934   1,165     163
Abay          38     275     390      55
Kaskelen      22     159     223      31
Avat           2      14     140       6
--------  ------  ------  ------  ------
Total:       191   1,382   1,918     255
----------------------------------------

Revenues of Leaseholders of Almaty Kus OJSC broken down by type of production, KZT m

--------------------------------------------------------------
Type of revenues                            1998   1999   2000
-----------------------------------------  -----  -----  -----
Income from egg sales                        791  1,241  1,383
Income from meat sales                       158    219    255
Income from sales of secondary production     43     45     47
Income from sales of egg powder               93    125    135
Income from sales of poultry fodder            (      (    102
-----------------------------------------  -----  -----  -----
Total:                                     1,084  1,629  1,922
--------------------------------------------------------------

Distributors

The company franchises Seimar trade mark to twenty four independent legal entities and individuals. The distributors are set purchase eggs from Almaty- Kus and distribute them through retail trade network. Each of them are granted with exclusive right to distribute Seimar production representing Seimar consortium in regions. They are also free to set final prices, conclude agreements with retail traders and develop sales policy. In turn, the Company are responsible for quality control.

Competition

The company sells 90% of produced output in the city of Almaty and Almaty region. According to Brief Market Consult researches Almaty Kus is the outstanding leader of the egg market in named regions. Other competitors are Ak Kus JSC, Bent JSC, Bertra JSC and Semipalatinsk Poultry Farm.

The sales markets

Almaty region is one of the major regions of egg production. At present, Almaty Kus takes 75% of the market in Almaty region. Throughout Kazakhstan the main competitors are Kostanai Poultry Farm JSC (20% of the market), Ai-Dan LLP (Kyzyl-Orda), and Ust-Kamenogorsk JSC. The Company's share in Kazakhstan market equals 37%.

The management of Almaty Kus considers that eggs market has already undergone its development stage. Nevertheless, there is still room for further growth. It is assumed that such growth is constrained by purchasing power of population. Thus, expected growth of income would lead to higher sales of eggs. In turn, slowdown in incomes would not lead to comparable decline of demand as eggs are among prior goods in the consumers' basket. The broadening of the sales market will take place due to restructuring of production facilities.