/KASE, May 28, 03/ - AMB OJSC (Almaty), whose securities are circulating in Kazakhstan stock exchange's (KASE) "А" listing category, has presented KASE auditor's report made by Ernst & Young (Almaty), which had been made on the bank's consolidated financial statement for 2002, prepared in compliance with international accounting standards.

Result of the bank's consolidated financial and economic activity as of December 31 of 2001 and 2002 is presented by the following indexes, in accordance with the auditor's data (in th. KZT, unless otherwise specified):

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Indicator                                                     2001        2002
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Issued authorized capital (paid excluding withdrawn)     3,099,100   3,099,974
Shareholders' equity                                     4,250,911   5,142,817
Total assets                                            39,038,552  58,221,432
Sum of liquid assets                                    13,207,527  20,310,529
Loans to clients (net)                                  24,119,982  34,761,711
Liabilities, total                                      34,787,641  53,049,890
Indebtedness to clients                                 20,066,744  31,545,022
Funds and loans of banks, other financial institutions  13,733,277  19,431,763
and the Government
Issued bonds                                                     -   1,593,595
Subordinate loan                                           711,431           -
Total revenues                                           5,193,095   7,430,329
General expenses                                         4,414,792   6,424,643
Net income                                                 778,303   1,005,686
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It's been calculated according to auditor's data:
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Return on equity (ROE), %                                    18.31       19.56
Return on assets (ROA), %                                     1.99        1.73
Earnings per share (EPS), KZT                               388.58      354.73
Book value of one share, KZT                              1,371.66    1,904.91
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Audit of consolidated financial statement of the bank and daughter companies (hereinafter - Group) for 2002 was conducted by Ernst & Young in compliance with international auditing standards. The bank's financial statement was correspondingly corrected in order to bring it to conformity with international accounting standards.

The Group's consolidated financial statement as of December 31 of 2002 comprises financial statement of the bank and its two daughter companies - Insurance company ATF Policy CJSC (Almaty, insuring activity), in which the bank owns 100% of issued shares and "DB of AMB OJSC" "Bank Apogei" OJSC (Almaty, banking activity), in which the bank owns 94.7% of total number of issued shares.

The Group's financial statement was correspondingly corrected in order to bring it in conformity with international accounting standards.

In the auditor's opinion the consolidated financial statement exactly in all essential aspects reflects the Group's consolidated financial condition as of December 31 of 2002 and about consolidated results of its activity and cash flow for the year, which ended by the mentioned date, in compliance with international accounting standards.

[2002-05-28]