Auditor's report on financial statement of Kazakhstan Mortgage Company CJSC (Kazakhstan) for 2002

/KASE, May 29, 03/ - Kazakhstan Mortgage Company CJSC (Almaty), whose bonds 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 company's financial statement for 2002, prepared in compliance with Kazakhstan and International accounting standards. Result of the company's consolidated financial and economic activity as of December 31 of 2002 is presented by the following indexes, in accordance with the auditor's data (in th. KZT, unless otherwise specified): ----------------------------------------------------------------------- Indicator 2001 2002 ------------------------------------------------- --------- --------- Issued (paid) authorized capital 1,000,000 1,500,000 Shareholders' equity 1,055,450 1,616,703 Total assets 1,056,868 2,134,840 Sum of liquid assets 981,715 987,864 Loans to clients 60,961 1,025,562 Loan to financial institution - 100,975 Liabilities, total 1,418 518,137 Issued bonds - 510,572 Total revenues 106,591 163,012 General expenses 51,141 96,309 Net income 55,450 66,703 ------------------------------------------------- --------- --------- It's been calculated according to auditor's data: ------------------------------------------------- --------- --------- Return on equity (ROE), % 5.25 4.13 Return on assets (ROA), % 5.25 3.12 ----------------------------------------------------------------------- Audit of financial statement of Kazakhstan Mortgage Company CJSC, which was made in compliance with Kazakhstan and International accounting standards, was conducted by Ernst & Young in compliance with Kazakhstan and International auditing standards. The auditor has noted that there is no difference between the company's financial statement prepared in compliance with Kazakhstan accounting standards and International accounting standards. In the auditor's opinion the consolidated financial statement exactly in all essential aspects reflects the company's financial condition as of December 31 of 2002, and also results of its financial and economic activity and cash flow and changes in shareholders equity for the year, which ended on December 31 of 2002, in compliance with International and Kazakhstan accounting standards. [2002-05-29]