Development Bank of Kazakhstan CJSC changed staff of Board of directors and intends to up authorized capital by KZT7.7 bn, liabilities in 2003 - by KZT4.3 bn

/KASE, July 11, 03/ - Development Bank of Kazakhstan CJSC (Astana), whose shares are circulating under "A" category official securities list at KASE, informed the Exchange that on special general meeting, which was held on July 10, 2003, the following decisions were made. - Increase authorized capital of the bank by KZT7.7 bn by issuing and offering common shares; - Approve the decision of the Board of directors on rising of bank's liabilities in 2003 by KZT4.3 bn by concluding a deal on attraction of budget credit against funds of republic budget; - Approve the charter of the bank of new edition in order to appropriate to new law "On joint-stock companies" and law "On Development Bank of Kazakhstan" (with appropriate adjustments dated June 11, 2003); - Change the staff of the Board by the recommendation of President of Kazakhstan on the basis of rotation among representatives of local executive bodies of the republic: - Elect Kulmahanov Shalbay Kulmahanovich- akim of Almaty oblast and Abaydildin Talgatbek Zhamshitovich - akim of East-Kazakhstan oblast to the Board, - In advance discontinue the authorities of members of the Board Khrapunov Viktor Vyacheslavovich - Almaty akim and Musin Aslan Espulayevich - Atyrau oblast akim. [2003-07-11]