/KASE, July 30, 02/ - UKTMP OJSC (Ust-Kamenogorsk), whose shares are circulating under stock exchange's "A" listing category, presented KASE the audit report of Deloitte & Touche (Almaty), which had been made on the company's consolidated financial statement for 2001.

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

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                                     As of      As of
Indicator                        Jan 1, 01  Jan 1, 02
------------------------------  ----------  ---------
Authorized capital                  24,021     24,021
Shareholders' equity             6,958,955  7,666,351
Total assets                     7,946,324  8,869,226
Net working capital              1,584,174  2,062,584
Accounts receivable                245,714    928,054
Total liabilities                  987,369  1,202,875
Accounts payable                   778,473  1,030,079
Attracted short-term credits        78,030    129,331
Sales volume                     5,538,777  9,662,774
Cost of goods sold               4,672,291  7,804,086
Net income                         173,449    752,589
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According to the auditor's data it's been calculated:
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Return on sales (ROS), %             15.64      19.24
Return on equity (ROE), %             2.49       9.82
Return on assets (ROA), %             2.18       8.49
Earnings per share (EPS), KZT       173.45     752.59
Price earnings ratio (P/E)               -       6.79
Book value of one share, KZT      6,448.85   7,104.39
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Earnings per share (EPS) for 2000 and 2001 is given in compliance with auditor's calculation, price earnings ratio has been determined taking into account these indicators.

The audit was conducted by Deloitte & Touche in accordance with international auditing standards. The company's financial statement was corrected with the purpose of bringing it to conformity with international accounting standards (IAS), excluding investment accounting to joint enterprises.

The company possesses 50% share in joint enterprise "Satpayevsk Titanium Mines Ltd".

The company's paid authorized capital (KZT21,582th) has been reflected by the auditor in compliance with basic principles of IAS taking into account correction about inflation in the amount of KZT2,439.

In the auditor's opinion, in all essential aspects reflects UKTMP OJSC financial situation by December 31, 2001, and results of its activity, cash flow and capital for the past year in compliance with the rules of international accounting standards.

The company's primary activities: production and realization of non-ferrous metals (titanium sponge, commercial magnesium).

[2002-07-30]