Results of SHNOS OJSC (Kazakhstan) in Q1 of 2001

/KASE, Sept 21, 01/ - SHNOS OJSC (Shymkent) provided the Kazakhstan Stock Exchange (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 (announced) 100,000 100,000 0 Authorized capital (paid) 83,096 62,323 -25.0 Shareholders' equity 17,974,976 28,710,810 +59.7 Total assets 22,452,187 32,385,060 +44.2 Net working capital 9,942,477 20,722,023 +108.4 Accounts receivable 10,483,154 16,704,813 +59.3 Liabilities 4,301,436 3,674,250 -14.6 Accounts payable 3,165,561 2,203,013 -30.4 Sales (services) 11,722,125 12,120,087 +3.4 Cost of goods sold 7,678,277 9,718,285 +26.6 Net income (loss) 3,691,474 1,057,245 -71.4 Book value of a share, KZT 287.54 460.9 +60.3 --------------------------------------------------------------- Compared to similar period of year 2000 growth took place in: - shareholders' equity of the company by KZT10.7 bln, or 59.7% as a result of increase and total sum of non distributed revenue by 10.8 bln at the decrease of paid authority capital by 20.8m. - assets - by KZT9.9 bln, or 44.2% due to increase of accounts payable by KZT6.2 bln and inventory reserves by KZT3.9 blm; - liabilities - by KZT627.2 bln, or 14.6% due to redemption of bank credits total for KZT1.3 bln, decrease of accounts payable by KZT786.8 bln, at increase of other liabilities by KZT1.5 bln; - sales - by KZT398.0 bln, or 3.4%; - cost of goods sold - by KZT2.0 bln, or 26.6%; - Expenses in period - by KZT16.5m or 1.7%. Net income of the company in the first quarter of 2001 totaled KZT1.1 bln that is less than KZT2.6 bln or 3.5 times of similar period of last year. Primary activities of the company - oil processing and sales of oil products. The following securities of SHNOS OJSC were admitted into official list of KASE, under A category. - Common (KZ1C37400310, trade code - SYRG) and preferred (KZ1P37400317, trade code - SYRGp) shares of SHNOS OJSC were admitted into the official lists of the KASE under category "A" (from Sept 16, 97 through Sept 16, 98 they were in official list of category "B"); - Coupon bonds (KZ2CUY03A339; SYRGb1; $100; $25m ; Feb 26, 01 - Feb 26, 04; semiannual coupon 10% APR) - from March 5, 2001.