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

/KASE, Nov 08, 01 official press-release of the Exchange/ - On November 08, 2001, second auction on 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 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 KZE4KY050038 KASE trade code ARU060.003 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 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 5 March 25,04 / March 25,04 6 Sept 24,04 / Sept 24,04 7 March 25,05 / March 25,05 8 Sept 24,05 / Sept 26,05 9 March 25,06 / March 27,06 10 Sept 24,06 / Sept 25,06 Announced issue volume, KZT 870,746,576.00 Additional floated volume, KZT 207,262,576.00 Time basis actual/365 Accumulated interest by auction date 1.060274% Servicing exchange rate (KZT/USD) 148.30 ------------------------------------------ ----------------------------- Number of participants - KASE members 3 Volume of submitted bids, bonds 64,080 Volume of submitted bids, KZT 942,595,823.15 Demand to supply, % 454.8 Prices on demand, % from face value Minimum 96.5310 Maximum 98.4313 Weighted average 98.1285 Yield on demand, % APR Minimum 9.0004 Maximum 9.5010 Weighted average 9.0794 ------------------------------------------ ----------------------------- Volume of satisfied bids, bonds 14,071 Volume of satisfied bids, USD 1,397,527.12 Volume of satisfied bids, KZT 207,253,271.31 Prices on demand, % from face value Minimum 98.1000 Maximum 98.4313 Weighted average 98.2597 Yield on demand, % APR (SA/AN) Minimum 9.0004 / 9.2030 Maximum 9.0868 / 9.2933 Weighted average 9.0452 / 9.2498 ------------------------------------------------------------------------ A total of 5 bids were made at the auction, of which 4 were active by the moment of trades closing. Those banks expressed the most interest, whose volume of bids totaled 99.95% from total volume of demand. 0.05% - the portion of bids of brokerage-dealer firms. Other categories of investors did not participate in the floating. After the issuer has conducted a cut-off procedure Weighted average clean price of bond was at 98.2597% at cut-off price 98.1000%.Two bids have been satisfied: one bid has been 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. Meanwhile banks bought all bonds. 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.