EXCHANGE'S COUNCIL OF KASE APPROVED RECOMMENDATION ABOUT FACE VALUE OF BONDS, WHICH ARE INCLUDED INTO STOCK EXCHANGE'S OFFICIAL SECURITIES LIST

/KASE, November 6, 02/ - On November 6 of 2002 Kazakhstan stock exchange's (KASE) approved recommendation "About face value of bonds, which are intended to be included into official list of Kazakhstan stock exchange CJSC". Below id the full text of the document. At present issued in Kazakhstan bonds have different face value that makes more difficult administrating and exploitation of the trade system of KASE concerning setting minimal lots and standard trade units. This difficulty is redoubled by the fact that in KASE's trade system both bonds, which's face value is expressed just in tenge, and bonds, which's face value is determined in an equivalent of a number of foreign currency and, thus, is not divisible by 10, 100 or 1,000 tenge, are circulating at a time. The optimal variant of solving this problem is unification of face values of all bonds, and stock exchange's council believes that such the standard face value of one bonds should be one tenge. Besides solution of questions, concerning KASE's trade system only, introduction of unified face value of one tenge will allow to take into account interests of bonds purchasers, who will have the opportunity to invest money without rest, which are meant for purchasing of bonds. In accordance with this stock exchange's Council notes that setting of another bond's face value, than one tenge, which are offered for including into KASE's official list, may be examined by the stock exchange's Council as a factor, which complicates listing of these bonds. For note: KASE initiated similar offers before the National Bank of Kazakhstan (concerning setting of norm of the legislation about bond's standard face value equaling to one tenge) and before the Ministry of finance and the Ministry of economics and budget planning of Kazakhstan (concerning setting of single face value of government securities equaling to one tenge). [2002-06-11]