/KASE, June 13, 02/ - Temirbank OJSC (Almaty), whose securities are circulating under category A of the official listing presented KASE the auditor's conclusion compiled by PriceWaterhouseCoopers (Almaty, Kazakhstan) in accordance with consolidated financial statement of the bank for 2001 and made in accordance with International standards.

According to the audited financial statement data the results of the bank's economic activity by December 31, 2001 and 2000 are as follows (in th. KZT, unless otherwise indicated):

---------------------------------------------------------------------
Indicator                                            2000        2001
---------------------------------------------  ----------  ----------
Authorized capital (paid exclusive withdrawn)   1,379,314   1,382,902
Shareholders' equity                            1,754,627   2,127,765
Total assets                                   13,613,413  21,852,068
Total liquid assets                             4,821,978   7,172,660
Floatations and loans to banks (net)            1,756,129   4,504,304
Loans and advances to clients (net)             8,026,721  13,727,904
Bonds iisued                                      721,055   1,634,176
Indebtedness to banks                           2,515,824   7,203,245
Indebtedness to clients                         8,428,482  10,520,770
Revenues from operational activitiy             2,942,782   3,311,739
Total expenses                                  2,872,291   2,941,565
Net income                                         70,491     370,174
---------------------------------------------------------------------
According to the auditor's data it's calculated:
---------------------------------------------------------------------
Return on equity (ROE), %                            4.02       17.40
Return on assets (ROA), %                            0.52        1.69
Earnings per share (EPS), tenge                     49.65      269.17
Book value of one share, tenge                   1,272.10    1,538.62
---------------------------------------------------------------------

Earnings per share (EPS) for 2000 and 2001 were calculated taking into account dividends that were imposed on the bank's preference shares, in accordance with auditor's conclusion data.

Audit was carried out by PriceWaterhouseCoopers in accordance with International auditing standards. The bank's financial statement was correspondingly corrected with the purpose of compliance with the International accounting standards.]

The bank's consolidated financial statement comprises financial statement of the subsidiary company Temir Capital B.V. (registered on October 16, 2001 in Rotterdam city, The Netherlands), in which the bank possesses 100% market share.

In the auditor's opinion the consolidated financial statement, in all significant aspects presents impartial picture of financial situation of Temirbank OJSC and its subsidiary company by December 31, 2001 and 2000, the results of its activity and cash flow within the years which ended by the date mentioned above in compliance with International accounting standards.

[2002-06-13]