/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):

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Indicator                                               2001       2002
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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
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It's been calculated according to auditor's data:
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Return on equity (ROE), %                               5.25       4.13
Return on assets (ROA), %                               5.25       3.12
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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]