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

/KASE, Nov 08, 01 official press-release of the Exchange/ - On November 08, 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 08,01 Settlement date (till 4:00PM ALT) Nov 09,01 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 March 26,03 / March 26,03 4 Sept 25,03 / Sept 25,03 Announced issue volume, KZT 1,880,663,000.00 Additional floated volume, KZT 695,943,000.00 Time basis actual/365 Accumulated interest by auction date 0.986301% Servicing exchange rate (KZT/USD) 148.30 -------------------------------------------- ----------------------------- Number of participants - KASE members 3 Volume of submitted bids, bonds 90,000 Volume of submitted bids, KZT 1,321,687,953.84 Demand to supply, % 189.9 Prices on demand, % from face value Minimum 96.6335 Maximum 99.3036 Weighted average 98.0419 Yield on demand, % APR Minimum 8.4003 Maximum 10.0016 Weighted average 9.1511 -------------------------------------------- ----------------------------- Volume of satisfied bids, bonds 47,276 Volume of satisfied bids, USD 4,692,712.38 Volume of satisfied bids, KZT 695,929,246.48 Prices on demand, % from face value Minimum 98.0000 Maximum 99.3036 Weighted average 98.2786 Yield on demand, % APR (SA/AN) Minimum 8.4003 / 8.5768 Maximum 9.1750 / 9.3854 Weighted average 9.0094 / 9.2126 -------------------------------------------------------------------------- A total of 7 bids were made at the auction, of which four were activeby the moment of trades closing. Only banks applied bids for bonds. Other categories of investors did not paricipate in the offering. After the issuer has conducted a cut-off procedure Weighted average clean price of bond was at 98.2786% at cut-off price 98.0000%.Two bids have been satisfied: one bid has benn satisfied completely and another one partially (bid price was equal to cut-off price). According to auction results the issuer was able to float the whole planned 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.