/IRBIS, information of the KASE Listing commission, Oct 5, 01/ - The following information is published due to the admittance of the first issue bonds of VALUT-TRANZIT BANK OJSC (Karagandy) into official list of the Kazakhstan Stock Exchange (KASE) under category "A".

ASSETS

Assets of VALUT-TRANZIT BANK OJSC increased by KZT5.7 bn, or 14.6 times from 1998 to 2000 (1998 to 1997 - by KZT1.2 bn or 4 times, 1999 to 1998 - by KZT1.1 bn or 1.7 times, 2000 to 1999 - by KZT3.3 bn or 2.2 times), in I half of 2001 - by KZT4.1 bn or 65.9% to 2000. More than 90% of assets are made of profitable assets. Main growth of the assets comes from loan portfolio of the bank (in 1999 - by KZT1.2 bn, in 2000 - by KZT2.3 bn, in I half of 2001 - by KZT3.4 bn).

Loan portfolio

During the same period (1998-2000) loan portfolio increased by KZT4.4 bn or 18.1 times, its proportion in total assets increased from 69.4% (1998) to 76.5% (2000). In I half of 2001 loan portfolio increased by KZT3.4 bn or 71.4% to 2000 at KZT8.1 bn (79.1% of assets). Lending activities are financed by the banks using time deposits of the clients and its own funds.

From 1998 VALUT-TRANZIT BANK OJSC is actively using a lease, with its proportions increasing in loan portfolio of the bank each year: in 1999 - by KZT986.8m or 38.6% to 1998, in 2000 - almost by KZT2.0 bn or 20.3% to 1999. By the results of I half of 2001 leases remained at the same level of the last year, but their proportion in loan portfolio fell to 35.2% (by 26.8%), which is caused by a growth of short-term financing (by KZT3.4 bn or 26.7% to 2000). As the bank's management explains, the growth of short-term loans in 6 months of this year was caused by an increase in needs of construction companies in short-term funding in spring and summer.

Structure of loan portfolio

--------------------------------------------------------------------------------
                  as of Jan 1.99  as of Jan 1.00  as of Jan 1.01 as of July 1.01
                 --------------- --------------- --------------- ---------------
Asset articles     th. KZT     %   th. KZT     %   th. KZT     %   th. KZT     %
---------------- --------- ----- --------- ----- --------- ----- --------- -----
Short-term loans    61,074   5.5 1,431,384  58.3 1,798,423  37.8 5,260,690  64.5
Mid-term loans         637   0.1       200   0.0     7,623   0.2     9,536   0.2
Long-term loans  1,063,712  90.0       407   0.0         -     0     7,325   0.1
Lease               36,980   3.1 1,023,746  41.7 2,944,351  62.0 2,866,378  35.2
Factoring           15,851   1.3         -     0         -     0         -     0
Others               4,243   0.3         -     0         -     0         -     0
---------------- --------- ----- --------- ----- --------- ----- --------- -----
Total            1,182,497 100.0 2,455,737 100.0 4,750,397 100.0 8,153,546 100.0
--------------------------------------------------------------------------------

Increase in the volumes of financial leasing is explained by the management of VALUT-TRANZIT BANK OJSC by the advantages that this type of transactions have. First, the bank has not problems with the collateral, since, being an owners of the collateral, it controls its safety and proper use, which eliminates the risk of non-payment of the loan in the future. Second, based on existing law, lease payments are exempt from income tax and not added into aggregate annual income. Third, lease allows the bank to conduct goal financing of the projects.

Besides, from late 1996 the bank is actively stimulating the development of pawn shop activities on the basis of partnerships with Valut-Tranzit Lombard LLP. The relationship is based on granting a loan by VALUT-TRANZIT BANK OJSC for a liquid collateral and finances the public for the collateral of highly marketable property. In 1999 the bank has developed and introduced favorable pawn shop financing programs ("Uchebnaya", "Meditsinskaya", "Kommunalnaya"), where interest rates (based on the amount and term) are on average 14 times less than usual loans. Now, Valut-Tranzit Lombard LLP has 68 offices and finances about 3,000 individuals daily and has a high money back ratio. By the information of the bank, in 2000 Valut-Tranzit Lombard LLP granted KZT1,062.2m worth of loans, and in 6 months of 2001 - KZT895.4m

In 2000 most of the financing went to such sectors of the economy as recreation, culture and sports (46.0%), hotels and restaurants (17.0%), retail trade (17.0), financial service companies (12.0%), others (10.0%).

Quality loan portfolio

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                as of Jan 1.99  as of Jan 1.00  as of Jan 1.01 as of July 1.01
               --------------- --------------- --------------- ---------------
Loan             th. KZT     %   th. KZT     %   th. KZT     %   th. KZT     %
-------------- --------- ----- --------- ----- --------- ----- --------- -----
Standard         916,324  77.5 1,520,784  61.9 3,831,784  80.7 6,390,040  78.4
Substandard      256,320  21.7   934,879  38.1   919,079  19.3 1,763,506  21.6
Unsatisfactory       610  0.00         -     -         -     -         -     -
Doubtful with
high risk            386  0.00         -     -         -     -         -     -
Bad debt           8,857   0.8        74   0.0         -     -         -     -
-------------- --------- ----- --------- ----- --------- ----- --------- -----
Total          1,182,497 100.0 2,455,737 100.0 4,750,397 100.0 8,153,546 100.0
------------------------------------------------------------------------------

Loan provisions created

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               as of Jan 1.99 as of Jan 1.00 as of Jan 1.01 as of July 1.01
               -------------- -------------- -------------- ---------------
Provisions      th. KZT     %  th. KZT     %  th. KZT     %  th. KZT      %
-------------- -------- ----- -------- ----- -------- ----- -------- ------
Standard              -     -        -     -        -     -        -      -
Substandard      12,816  58.3   46,744  99.8   45,954   100   88,175    100
Unsatisfactory      122   0.6        -     -        -     -        -      -
Doubtful with
high risk           193  0.03        -     -        -     -        -      -
Bad debt          8,857  40.3       74   0.2        -     -        -      -
-------------- -------- ----- -------- ----- -------- ----- -------- ------
Total            21,988 100.0   46,818 100.0   45,954 100.0   88,175  100.0
---------------------------------------------------------------------------

The most of the financing is made of standard loans that does not require provisions. From 1999 VALUT-TRANZIT BANK OJSC has no unsatisfactory and doubtful debt in its loan portfolio, and from 2000 - unprofitable ones. As a result, growth of provisions created in monetary terms was caused solely by an increase in financing volumes, which is confirmed by annual decrease in their proportions (1998-1999 - 1.9% of granted loans, in 2000 - 1.0%, as of July 1, 01 - 1.1%).