/KASE, November 14, 02/ - By the decision of Kazakhstan stock exchange's (KASE) Governing body dated November 14 of 2002 minimal volumes of compulsory quotations for market-makers on securities have been changed.

The decision has been made in accordance with coming in effect of corrections, which were included into Appendix 1 to the Rules of market-makers' activity "Specification of market-maker's status for stock exchange's members on "Р" and "Н" categories" (Specification), in which it was said that minimal volume of compulsory quotation for market-makers and specialists at KASE had been set in the volume of 2,000 monthly settlement indicators on bonds and 1,000 on shares.

Since November 15 of 2002 the following volumes of compulsory quotations will be in effect:

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Name of                       Trade code of          Minimal volume of
market-maker                  security               compulsory quotation
----------------------------- ---------------------- --------------------------
KAZKOMMERTSBANK OJSC          KKGBe2                 USD10,000 at face value
                              SYRGb1                 100 bonds
----------------------------- ---------------------- --------------------------
TuranAlem                     BTAS                   60 shares
Securities LLP                KZASb1                 100 bonds
                              TEBN, TEBNp            820 common shares
                              VKU036.001             100 bonds
                              VKU036.002, VKU084.003 100 bonds each
                              TEBNb2                 USD10,000 at face value
                              ASFIb1                 100 bonds
                              ASFIb2                 16,000 bonds
----------------------------- ---------------------- --------------------------
KIB ASSET                     CCBN                   4,000 shares
MANAGEMENT Ltd LLP            CCBNb1                 100 bonds
                              CCBNb2                 100 bonds
                              ALBNb1                 100 bonds
----------------------------- ---------------------- --------------------------
Kazkommerts                   ALKS, ALKSp            18,000 common and 82,000
                                                     privileged shares
Securities OJSC
                              ALKSp3                 82,000 shares
                              KKGB                   9,300 shares
                              KKGBp                  82,000 shares
                              KKGBe3                 USD10,000 in nominal
                                                     expression of the debt
                              SYRG                   3,300 shares
                              KZTK, KZTKp            270 common and 300
                                                     privileged shares
                              KZTKb1                 100 bonds
                              UTMK                   140 shares
                              KARMb1                 100 bonds
                              ARU024.002, ARU060.003 USD10,000 at face value
                              JGOKb1                 160 bonds
----------------------------- ---------------------- --------------------------
Fondoviy service CJSC         HSBK                   4,300 shares
                              HSBKb                  100 bonds
                              HSBKp                  5,500 shares
                              HSBKb2                 1,600 bonds
                              HSBKp7                 8,200 shares
                              ASFI                   800 shares
                              TMJLb2                 100 bonds
                              ASU036.003             USD10,000 at face value
                              AST036.004             16,000 bonds
                              AST048.005             16,000 bonds
                              KZAPb1                 16,000 bonds
                              NRBNb1                 1,600 bonds
----------------------------- ---------------------- --------------------------
AMB OJSC                      BRKZb1                 1,600 bonds
----------------------------- ---------------------- --------------------------
RG Securities LLP             RGBRb2                 100 bonds
                              LARIb1                 USD10,000 at face value
                              TXBNb1                 1,600 bonds
                              CSBN, CSBNp            4,800 common and 4,800
                                                     privileged shares
                              CSBNb1                 100 bonds
                              ORDBb1                 1,600 bonds
----------------------------- ---------------------- --------------------------
Aliance Investment            SMGZb1                 100 bonds
Management LLP                UTMKp                  100 shares
                              ATFBp                  1,000 shares
----------------------------- ---------------------- --------------------------
FUTURE CAPITAL LLP            KZMS                   80 shares
----------------------------- ---------------------- --------------------------
KG Securities LLP             VTBNb1                 100 bonds
                              VTBN, VTBNp            2,300 common and 2,000
                                                     privileged shares
----------------------------- ---------------------- --------------------------
Halyk Bank of Kazakhstan OJSC BRKZb1                 1,600 bonds
                              BRKZe1                 USD10,000 in nominal
                                                     expression of the debt
-------------------------------------------------------------------------------

Stock exchange also reminds that the new publication of the Specification comprises switch to yield indicator for calculations of spreads on bonds and difference between two consequent compulsory quotations of specialists on bonds. Besides, there have been set stricter requirements for market-makers on spreads of compulsory quotations. In particular it has been determined by the Specification that:

• spread between compulsory quotations of corporate bonds for their specialists at KASE is not to exceed 1.5 percentage points, and for market- makers - 3.0 percentage points of bond's yield to maturity for a purchaser, which is calculated on quotations;
• spread between compulsory quotations for purchasing of selling of shares for their market-makers at KASE is not to exceed 50% of the value of quotation for purchasing (before - 100%); for specialists of shares requirements on spread remained the same - 3%.

Besides, there have been included into Article 6 of the Specification ("Limit of specialists' rights") corrections, which change the order of compulsory quotations changing by bonds' specialists towards worsening for potential counteragent. Change of quotations in this way cannot exceed the size, which corresponds to change of bond's yield to maturity for a purchaser by 0.5 percentage points.

[2002-11-14]