Results of activity of Insurance company SAYA OJSC (Kazakhstan) for 9 months of 2002

/KASE, December 2, 02/ - Insurance company SAYA OJSC (Aktobe), whose shares are circulating under stock exchange's official "B" listing category, provided KASE with financial statement for 9 months of 2002: balance sheet, income statement and cash flow statement. The following indicators are results of the issuer's financial and economic activity for 9 months of 2002, based upon the issuer's information (in th. KZT, unless otherwise specified): ------------------------------------------------------------ As of As of Change, Indicator Oct 1, 01 Oct 1, 02 % -------------------------------- --------- --------- ------- Issued authorized capital (paid 102,000 138,925 +36.2 excluding withdrawn) Shareholders' equity 106,395 231,433 +117.5 Total assets 127,239 256,588 +101.7 Investments into securities 85,928 86,658 +0.8 Accounts receivable 21,352 21,702 +1.6 Liabilities, total 20,844 25,155 +20.7 Insurance reserves 15,488 18,084 +16.8 Accounts payable 5,201 3,678 -29.3 Total revenues 33,043 27,549 -16.6 General expenses 32,711 26,245 -19.8 Net income (loss) for the period 332 20 -94.0 Book value of one share, KZT 1,043.03 1,846.95 +77.1 ------------------------------------------------------------ Relative to 9 months of 2001 there are following changes: - shareholders' equity increased by KZT125.0 m as the result of increase of paid part of authorized capital by 37.0 m (floatation of shares of the 3rd issue) and additionally unpaid capital by 88.4 m, whereas there took place decrease of undistributed income by KZT312.0 th.; - assets increased by KZT129.3 m, including: residual value of fixed assets - by 88.8 m, volume of term deposits, which had been placed in the bank, - by 37.4 m, cash - by 1.8 m and other assets - by 1.4 m; - liabilities increased by KZT4.3 m that had been caused by increase of revenues of future periods by 3.2 m and insurance reserves - by 2.6m whereas there took place decrease of accounts payable by 1.5 m; - revenues decreased by KZT5.5 m; - expenses decreased by KZT6.5 m; - income before taxation increased by KZT972.0 m (by 3.9 times). Net income, which was received by Insurance company SAYA OJSC for 9 months of 2002 decreased by KZT312.0 th. in comparison with similar period of 2001. The tale below shows dynamics of some indicators of Insurance company SAYA OJSC for 9 months of 2002 by quarters by non- growing result (in th. KZT): ---------------------------------------------------- Change, Change, Indicator I-2002 II-2002 % III-2002 % ------------ ------ ------- ------- -------- ------- Sales volume 8,085 9,740 +20.5 9,724 -0.2 Net income -116 1,034 +991.4 -898 -190.6 ---------------------------------------------------- The company's primary activity is insurance. [2002-12-02]