MEOKAM-24 of Ministry of Finance of Kazakhstan of the 64th issue - results of offering

/IRBIS, June 9, 03/ - Today the Ministry of Finance (MOF) and the National Bank of Kazakhstan held the 64th auction for MEOKAM-24 offering (730 days). Size of satisfaction for noncompetitive applications is 30% of specified amount. Following is the issue structure, results of bonds offering and comparison with previous comparable issue: ---------------------------------------------------------------------- Type of the securities МЕОКАМ-24 МЕОКАМ-24 NIN KZK2KY020644 KZK2KY020636 KASE trade code MOM024.064 MOM024.063 IRBIS registration number 64/24 63/24 Par value, KZT 1,000.00 1,000.00 Settlement basis actual/365 actual/365 Offering date (auction) June 9, 03 May 5, 03 Payment date June 10, 03 May 6, 03 Circulation start date June 11, 03 May 6, 03 Maturity date (planned / actual) June 9, 05 May 5, 05 Days in circulation 730 days 730 days Coupon payments dates (planned / actual) 1 Dec 9, 03 Nov 4, 03 2 June 9, 04 May 5, 04 3 Dec 8, 04 Nov 3, 04 4 June 9, 05 May 5, 05 Planned volume. KZT m 2,000.0 (+ 500.0) Number of participants - Primary dealers 13 ( 0) Demand. KZT m 11,584.0 (+ 4,902.0) Maximum yield on demand, % APR 7.00 (- 2.00) Actual volume, KZT m 2,000.0 (+ 500.0) Fixed rate, % APR 6.70 (- 0.29) ---------------------------------------------------------------------- According to information of the Ministry of finance, there were no applications to the auction submitted by non-residents. Relative to previous successful floatation of МЕОКАМ dated May 7 of 2003 (МЕОКАМ-56 #36, KZK2KY030569, interest rate 7.00% APR) demand fell by KZT338.5 m. (0.97 times), actual floatation volume increased by KZT514.0 m. (1.4 times). Ministry of finance almost ignored the great demand of the market, which thirsted for long securities, and took only the planned volume, having significantly decreased yield of bonds. Thus, testing of the issuer's intentions, which was made by participants, has not brought new results. [2003-06-09]