Results of initial additional offering auction of third 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 third 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 bonds. 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 KZE4KY050038 KASE trade code ARU060.003 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 24,06 / Sept 25,06 Circulation term 1825 days (5 years) Coupon Semiannual Coupon rate (rate of reward) 8.60% APR Coupon payments dates (planned / actual) 1 March 26,02 / March 26,02 2 Sept 25,02 / Sept 25,02 3 March 26,03 / March 26,03 4 Sept 25,03 / Sept 25,03 March 25,04 / March 25,04 Sept 4,04 / Sept 24,04 March 25,05 / March 25,05 Sept 24,05 / Sept 26,05 March 25,06 / March 27,06 Sept 24,06 / Sept 25,06 Announced issue volume, KZT 870,746,576.00 Additional floated volume, KZT 869,269,576.00 Time basis actual/365 Accumulated interest by auction date 0.966027% Servicing exchange rate (KZT/USD) 148.10 ------------------------------------------ ------------------------------------ Number of participants - KASE members 3 Volume of submitted bids, bonds 44,700 Volume of submitted bids, KZT 663,219,976.73 Demand to supply, % 76.3 Prices on demand, % from face value Minimum 98.0400 Maximum 100.0000 Weighted average 99.2254 Yield on demand, % APR Minimum 8.5964 Maximum 9.1010 Weighted average 8.7960 ------------------------------------------ ------------------------------------ Volume of satisfied bids, bonds 44,700 Volume of satisfied bids, USD 4,478,190.25 Volume of satisfied bids, KZT 663,219,976.73 Prices on demand, % from face value Minimum 98.0434 Maximum 100.0000 Weighted average 99.2254 Yield on demand, % APR (SA/AN) Minimum 8.5964 / 8.7813 Maximum 9.1010 / 9.3082 Weighted average 8.7960 / 8.9897 ------------------------------------------------------------------------------- A total of 11 bids were made at the auction. The banks, which accounted for 98.9% of the demand, expressed the greatest interest in bonds. Bids from bank clients accounted for 1.1% of the demand. Other categories of investors didn't participate in floatation. The issue satisfied all applied bids. As a result weighted average clean price of bond was at 99.2254% at cut-off price 98.0434%. More detailed results are given in the table. According to auction results the issuer was able to float 76.3% of announced volume. 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.