Results of NOC KAZAKHOIL CJSC (Kazakhstan) in 2000

/KASE, Dec 19, 01/ - NOC KAZAKHOIL CJSC (Astana) provided the KASE with its financial statements for the year 2000, which were audited by Ernst & Young (Almaty, Kazakhstan) in compliance with the Kazakhstani Accounting Standards: balance sheet, income and cash flow statements. By the data of audited financial statements of the issuer, which were prepared in compliance with the Kazakhstani Accounting Standards, the following are the results of the company in 2000 (in th. KZT unless otherwise specified): ----------------------------------------------------------------------------- As of As of Change, Ratio Oct 1 '00 Oct 1 '01 % ----------------------------------------------------------------------------- Authorized capital (paid) 10,996,378 14,493,399 +31.8 Shareholders' equity 125,940,891 236,125,154 +87.5 Total assets 301,476,112 430,863,893 +42.9 Net working capital 29,600,089 43,862,060 +48.2 Accounts receivable 74,394,726 134,058,145 +80.2 Total liabilities 165,439,405 172,992,930 +4.6 Accounts payable 28,634,733 29,950,950 +4.6 Sales 72,886,642 218,203,174 +199.4 Cost of goods sold 1,020,992 73,207,790 +7,070.3 Net income of the period 18,038,975 54,095,084 199.9 ----------------------------------------------------------------------------- Calculated based on financial statements: ----------------------------------------------------------------------------- Return on sales (ROS), % 98.60 66.45 -32.6 Return on equity (ROE), % 14.32 22.91 +59.9 Return on assets (ROA), % 5.98 12.56 +109.8 ----------------------------------------------------------------------------- The comparison of the figures for the year 2000 and 1999 is made based on the financial statements of the company, which were audited based on Kazakhstani Accounting Standards (in 2000 - by Ernst & Young, in 1999 - by BDO Kazakhstanaudit CJSC). Compared to 1999 the growth took place in: - shareholders' equity of the company - by KZT110.2bn as a result of an increase in fixed assets re-evaluation amounts and investments - by KZT88.3bn, final amount of undistributed income - by KZT30.4bn, paid portion of authorized capital - by KZT3.5bn, reserve capital - by KZT661.8m with the decrease in additional paid-in capital by KZT5.2bn and merger reserves - by KZT7.5bn; - assets - by KZT129.4bn, including: an increase in residual value of fixed assets and intangible assets - by KZT87.1bn, accounts receivable - by KZT59.87bn with the decrease in other assets by KZT17.4bn; - liabilities - by KZT7.6bn, including: an increase in attracted loans by KZT107.6bn and accounts payable - by KZT1.3bn with a decrease in other liabilities by KZT101.4bn; - sales - by KZT145.3bn or 3 times; - cost of goods sold - by KZT72.2bn or 71.7 times; - expenses of the period - by KZT19.2bn or 1.4 times. Net income of NOC KAZAKHOIL CJSC in 2000 increased by KZT36.1bn relative to the same period of last year, or 3 times. Now, coupon bonds of NOC KAZAKHOIL CJSC (KZ72LAG56A20, trade code - KZOLb, $25m, June 5.00 - June 5.02; semiannual coupon at 9% APR) are traded within the official list of the KASE under category "A", which were admitted to the trade lists on May 19, 2000.