Results of initial additional offering auction of second issue municipal bonds of Atyrau region

/KASE, Nov 02, 01 official press-release of the Exchange/ - On November 02, 2001, initial additional public offering of second issue coupon bonds of Atyrau region local executive body was held in the trade system of KASE. Only competitive bids were accepted at the auction. The subject of trades was clean price of bond. Following are the parameters of the issue and complete auction results. ------------------------------------------------------------------------------- Type of securities inscribed coupon bond indexed by the KZT/USD exchange rate fluctuation NIN KZE4KY020023 KASE trade code ARU024.002 Face value, USD 100.00 Auction date Nov 02,01 Settlement date (till 4:00PM ALT) Nov 05,01 Circulation begins on (first accumulated interest accrual date) Sept 26,01 Maturity (planned / actual) Sept 25,03 / Sept 25,03 Circulation term 730 days (2 years) Coupon Semiannual Coupon rate (rate of reward) 8.00% APR Coupon payments dates (planned / actual) 1 March 26,02 / March 26,02 2 Sept 25,02 / Sept 25,02 3 March26.03.03 / 26.03.03 4 Sept 25,03 / Sept 25,03 Announced issue volume, KZT 1,880,663,000.00 Additional floated volume, KZT 1,851,123,000.00 Time basis actual/365 Accumulated interest by auction date 0.898630% Servicing exchange rate (KZT/USD) 148.10 ------------------------------------------ ------------------------------------ Number of participants - KASE members 4 Volume of submitted bids, bonds 93,000 Volume of submitted bids, KZT 1,370,472,659.39 Demand to supply, % 74.0 Prices on demand, % from face value Minimum 95.0000 Maximum 99.5600 Weighted average 98.6302 Yield on demand, % APR Minimum 8.2487 Maximum 10.9946 Weighted average 8.8055 ------------------------------------------ ------------------------------------ Volume of satisfied bids, bonds 78,000 Volume of satisfied bids, USD 7,815,218.45 Volume of satisfied bids, KZT 1,157,433,852.54 Prices on demand, % from face value Minimum 97.9403 Maximum 99.5600 Weighted average 99.2984 Yield on demand, % APR (SA/AN) Minimum 8.2487 / 8.4189 Maximum 9.2049 / 9.4167 Weighted average 8.4025 / 8.5792 ------------------------------------------------------------------------------- A total of 7 bids were made at the auction. The banks, which accounted for 62.4% of the demand, expressed the greatest interest in bonds. Bids from pension funds accounted for 37.6% of the demand. Other categories of investors didn't participate in floatation. After the issuer has conducted a cut-off procedure Weighted average clean price of bond was at 99.2984% at cut-off price 97.9403%.Six bids have been satisfied. More detailed results are given in the table. According to auction results the issuer was able to float 62.5% of announced volume. At the same time 74.4% of satisfied bids were belong to banks, 25.6% - to subjects of pension market (this volume was bought out due to pension assets). All settlements regarding the servicing of the bonds are made in Kazakhstani tenges at the KZT/USD official rate of the National Bank of Kazakhstan, effective on the date prior to settlement date.