SINCE NOVEMBERС 15 OF 2002 KASE CHANGES MINIMAL VOLUMES OF COMPULSORY QUOTATIONS FOR SECURITIES' MARKET-MAKERS AND TOUGHTENS REQUIREMENTS FOR SPREADS

/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: ------------------------------------------------------------------------------- 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]