REFERENCE: SB Alfa-Bank OJSC (Kazakhstan) - comments of KASE Listing commission

/IRBIS, information of the KASE Listing commission, March 4, 02/ - At the admittance of the first issue indexed inscribed coupon bonds of SB Alfa- Bank OJSC (SB Alfa-Bank OJSC, Almaty) into official list of the Kazakhstan Stock Exchange (KASE) under category "A" the Listing commission of the exchange considered necessary to draw attention of potential investors to following aspects. Own equity of SB Alfa-Bank OJSC in needed amount was formed less than one year ago (in November 2001) mainly due to increase of paid part of authorized capital by KZT660,319 th. Net income for 2000 in non-audited financial reporting of SB Alfa-Bank OJSC prepared based on Kazakhstan accounting standards was KZT10,577 th. In audited by Arthur Andersen financial reporting prepared based on International accounting standards this indicator was KZT1,484 th. A difference in the amount of KZT9,096 th was formed mainly as a result of deducting by the auditor of general provisions for possible losses and reversing an income on re-evaluation of foreign currency.