/KASE, May 29, 03/ - Astana-finance OJSC (Astana), whose securities are circulating in Kazakhstan stock exchange's (KASE) "А" listing category, has presented KASE auditor's report made by Deloitte & Touche (Almaty), which had been made on the company's consolidated financial statement for 2002, prepared in compliance with 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                  1,817,420  1,876,342
Shareholders' equity                              2,132,374  2,197,254
Total assets                                      9,886,804 15,321,606
Loan portfolio (net)                              2,931,183  4,380,998
Building objects (finished and unfinished)        3,764,393  4,723,857
Accounts receivable                               1,111,696  2,423,101
Total liabilities                                 7,711,596 13,096,290
Borrowed funds                                    6,250,692  9,428,221
Accounts payable                                  1,300,741  3,513,678
Issued bonds                                      1,542,511  2,947,365
Total revenues                                    1,326,952  2,181,594
General expenses                                  1,267,151  1,981,954
Net income                                           59,801    199,640
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It's been calculated according to auditor's data:
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Return on equity (ROE), %                              2.80       9.09
Return on assets (ROA), %                              0.60       1.30
Book value of one share, KZT                       1,173.30   1,171.03
Earnings per share (EPS), KZT                         33.01     109.04
Price earnings ratio (P/E)                            30.28          -
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Audit of consolidated financial statement of Astana-finance OJSC and its daughter companies (hereinafter - Group) for 2002 was conducted by Deloitte & Touche in compliance with international auditing standards. The consolidated financial statement was correspondingly corrected in order to bring it to conformity with international accounting standards.

As of December 31 of 2002 the Group's consolidated financial statement comprised financial statement of Astana-finance OJSC and statements of the following daughter companies: Astana City Palace OJSC (Astana, 100% of total number of issued shares belongs to Astana-finance OJSC), Atyrau Nedvizhimost OJSC (Atyrau, 100%), Astana Nedvizhimost OJSC (Astana, 80%), Astana Gas Service OJSC (Astana, 70%), Ak Zhaik Nedvizhimost OJSC (Uralsk, 70%), AREK CJSC (Akmola oblast, 50.4%), and also Horse- sport club "Kulager" LLP (Astana, shareholding of Astana-fiance OJSC in the authorized capital is 100%), Sanatorium "Priozerniy" LLP (North-Kazakhstan oblast,100%) and Kumys Kaskyr LLP (Astana, 100%).

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

Astana-finance is a non-banking financial institution, whose primary activities are: separate types of banking services, investing activity, financing economic and social projects on development of Astana city, and also other activities in accordance with the Charter and licenses, which the company possesses.

[2002-05-29]