On April 29 Halyk Bank of Kazakhstan OJSC held general shareholders meeting according to results of 2002

/IRBIS, April 30, 03/ - Today Halyk Bank of Kazakhstan OJSC (Almaty) has spread press-release about results of the bank's annual general shareholders meeting, which was held on April 29 of 2003. 74 shareholders and their legal representatives, who owned in the aggregate 71,912,488 voting shares that was 97.57% of the company's all voting shares, took part in the meeting. The press-release says that the meeting confirmed financial statement for 2002 and by the majority votes decided to distribute the bank's net income for 2002 in the amount of KZT2.561 bn. in the following way: - to spend about KZT390 m., for dividends payment on privileged shares in compliance with their issue terms; the deadline for registering shareholders, who have the right for receiving dividends is May 5 of 2003; dividends payment will be made since May 5 till May 30 of 2003; - to send KZT600 m. to the reserve capital, to keep from distributing the remaining part equaling to KZT1.571 bn.; - not to make dividends payment to shareholders on common inscribed shares. In the opinion of the Board of directors of Halyk Bank of Kazakhstan OJSC such distribution will let the bank preserve the results, which were achieved concerning increasing of shareholders equity, increase development rates in order to take back the leading positions in the banking sector and fulfill all requirements of the National Bank of Kazakhstan concerning fulfillment of economic (prudential) norms. Besides, the questions on the bank's international business development were confirmed at the meeting. In particular, there has been set the new limit of borrowings of Halyk Bank of Kazakhstan OJSC at international markets of capital in the amount of $450 m. (or equivalent of the mentioned sum in another foreign currency) till January 1 of 2005. Global depositary receipts issue on the bank's common inscribed shares, which are in circulation on regulation program "S", has been approved. Ernst and Yong LLP has been elected the bank's auditor for confirmation of authenticity of the annual financial statement in compliance with international standards and requirements of the National Bank of Kazakhstan, BDO Kazakhstanaudit CJSC, Almir-consulting LLP and Eltal-uveman consulting LLP - for confirmation of the current state of the bank's business. [2003-04-30]