/CORRECTED/ On June 14 of 2003 Development Bank of Kazakhstan CJSC (Kazakhstan) will pay off syndicated loan for $28.0 m

/KASE, June 23, 03, resent in accordance with incorrectly shown primary activity/ - Development Bank of Kazakhstan CJSC (Astana), whose bonds are circulating in Kazakhstan stock exchange's (KASE) "А", has informed KASE about the forthcoming redemption on June 14 of 2003 of main debt and charged interest on syndicated loan, which was borrowed from foreign banks group to the amount of USD28.0 m., organizer of which was ING Bank N.V. According to the presented information the loan was given to Development Bank of Kazakhstan CJSC on June 19 of 2002 at the rate LIBOR+2.7% for 360 days with the right of prolongation for more 180 days. Besides, Development Bank of Kazakhstan CJSC has presented to the stock exchange the Law of the Republic of Kazakhstan "About including of changes and additions into Kazakhstan Law "About Development Bank of Kazakhstan" dated June 11 of 2003 #434-II LRK, according to which the bank is allowed to participate in the authorized capital of juridical entities, which are founded by professional participants of securities market (stock exchange, central depository), and also organizations-leasing presenters. Primary activity - opening and maintenance of banking accounts for entering in of loans of the bank, other loans and funds of the republican and local budgets in order to make payments and transfers of money, which have been provided for by agreements, which were made in accordance with served by the bank investment projects and export operations (given by the new edition of the mentioned law - note of KASE). [2003-06-23]