REFERENCE: Corporation Kazakhmys OJSC (Kazakhstan) - financial ratios for I half of year, auditor's data and comparable figures for 9 months

/IRBIS, Oct 17, 01/ - The following information is published by IRBIS due to the announcement of sales of state blocks of Corporation Kazakhmys OJSC (Jezkazgan; extraction and processing of minerals, production of cathode copper; etc) at Kazakhstan Stock Exchange (KASE) by the State Property and Privatization Committee of the Ministry of Finance of Kazakhstan (Committee), which will be held on November 19 and 20, 2001. The SBS to be sold equals 15.0% the company's authorized capital. Now, common and preferred shares of Corporation Kazakhmys OJSC are entered into the official list of KASE securities under category "A". Today the Exchange has following financial statements of the company, which have been made in compliance with the Kazakhstani Accounting Standards (KAS): consolidated financial statements (balance sheet, income and cash flow statements) for the years 1998-2000, as well as consolidated balance sheet, income and cash flow statements for the I half of 2001. Consolidated financial ratios of Corporation Kazakhmys OJSC, made on the basis of the company's data, th. KZT unless otherwise indicated ---------------------------------------------------------------------------- as of as of as of as of Ratio Jan 1.99 Jan 1.00 Jan 1.01 July 1.01 -------------------------- ------------ ------------ ----------- ----------- Authorized capital, paid 98,231 98,231 98,231 2,946,920 Book value of the assets 74,895,409 90,448,664 102,527,232 117,328,127 Shareholders' equity 32,186,039 32,673,397 61,104,700 81,017,789 Net working capital (17,063,689) (18,154,031) 5,063,032 21,338,250 Accounts receivable 11,636,887 22,086,239 11,381,203 20,987,701 Accounts payable 25,813,212 30,544,304 35,820,271 30,722,909 Income from primary activities (1,697,300) 17,923,087 46,470,627 24,085,616 Sales 49,562,842 74,479,467 112,699,401 60,796,076 Cost 36,702,170 39,616,491 47,093,088 26,567,127 Liabilities 36,310,338 57,775,267 41,422,532 36,310,338 Loans attracted 17,342,769 23,736,859 1,186,832 1,172,000 Net income (loss) (4,047,649) 4,554,772 32,528,451 19,913,117 -------------------------- ------------ ------------ ----------- ----------- Calculated by KASE: -------------------------- ------------ ------------ ----------- ----------- Return on sales (ROS), % 26.0 46.8 58.2 56.3 Return on equity (ROE), % - 13.9 53.2 24.6 Return on assets (ROA), % - 5.0 31.7 17.0 Earnings per share (EPS), KZT - 869.18 7,261.97 4,504.8 Book value of a share, KZT 6,553.16 6,652.38 12,441.06 16,495.4 ---------------------------------------------------------------------------- Corporation Kazakhmys OJSC also presented auditing report on its consolidated financial statements conducted by KPMG Janat (1998-2000 years). Consolidated financial ratios of Corporation Kazakhmys OJSC, made on the basis of the company's audited data, th. KZT unless otherwise indicated ---------------------------------------------------------------- as of as of as of Ratio Jan 1.99 Jan 1.00 Jan 1.01 -------------------------- ------------ ------------ ----------- Authorized capital, paid 98,231 98,231 98,231 Book value of the assets 70,599,603 85,637,876 97,258,684 Shareholders' equity 25,028,490 28,824,612 62,191,331 Net working capital (12,054,301) (19,756,935) 17,969,290 Accounts receivable 4,013,989 13,779,239 2,751,833 Advanced granted and expenses of future periods 1,499,163 3,106,260 3,669,930 Accounts payable 14,502,081 14,004,374 15,670,535 Sales 49,199,904 74,805,361 112,614,710 Cost 33,662,506 32,892,513 39,187,601 Liabilities 56,813,264 56,813,264 35,067,353 Net income (loss) 224,961 3,522,710 38,397,650 -------------------------- ------------ ------------ ----------- Calculated by KASE: -------------------------- ------------ ------------ ----------- Return on sales (ROS), % 31.58 56.03 65.20 Return on equity (ROE), % 0.90 12.22 61.74 Return on assets (ROA), % 0.32 4.11 39.48 Book value of a share, KZT 4,632.60 5,335.24 11,511.19 ---------------------------------------------------------------- On the company's 1999-2000 financial statements the KPMG Janat made a conditional conclusion. There is no latest information at the KASE. However, the Exchange will take measures to obtain it from the company by the beginning of SBS trades. So far, the up-to-date information regarding the activities of the company was published by IRBIS with the reference to the head of PR department of the company, Vladislav Nikolaev. Based on these data, in 9 months of this year the company increased refined copper production up to 309,200 tons from 291,500 tons in similar period of last year. The corporation continues the construction of a zinc plant in Balkhash, Artemievskii mine in Eastern Kazakhstan region, Shatyrkol mine in Jambyl region, Jaman-Aibat mine in Karagandy region. It also started the development of Samarskoe (Nurkazgan) field near Temirtau and will begin restoring Karagaily GOK which has been idle for several years. The ore extraction in 9 months of 2001 increased to 29.4m tons from 27.6m tons in similar period of last year. Comparable production figures of Corporation Kazakhmys OJSC in 9 months of 2001 and in 2000 based on REUTERS --------------------------------------------------------------- January-September January-September Indicator 2001 2000 --------------------------- ----------------- ----------------- Refined copper (tons) 309,200 291,500 Silver (kg) 484,956 415,150 Gold (kg) 4,254 2,787 Zinc in concentrates (tons) 53,000 68,900 Ore production (m tons) 29.4 27.6 Coal production (m tons) 5.0 4.7 --------------------------------------------------------------- Total production of commodity output reached KZT85.3 bn based on world prices, whereas it did not exceed KZT82.3 bn in similar period of last year. Based on the extract from the register of securities holders, as of April 18, 2001 (there are no earlier extracts at the KASE), total number of securities holders of the company was 11,861, including 17 legal entities and 12.021 individuals. Following are those who own more than 5% of voting shares: - National State Enterprise Informatsionno-uchetnyi tsentr under the State Committee of Kazakhstan on State Property (IUTS NSE, Almaty) - 1,719,037 common shares (35.0% of authorized capital) - SBS is under trust management of the company; - Samsung corporation (Seoul, Korea) - 1,244,132 common shares (25.33%); - Samsung HongKong Ltd. (Seoul, Korea) - 845,911 common shares (17.22%); - Other shareholders -611,300 common and 491,153 preferred shares (22.45%).