ТЕXAKABANK OJSC (Kazakhstan) will issue bonds for KZT3.0 bn. and common shares for KZT2.0 bn.

/KASE, July 14, 03/ - ТЕXAKABANK OJSC (Almaty), whose securities are circulating in Kazakhstan stock exchange's (KASE) official "А" listing category, has presented KASE a copy of minutes of annual general shareholders meeting, which was held on May 26 of 2003 in Dallas city of Texas state (USA). In accordance with the admitted agenda shareholders of TEXAKABANK OJSC confirmed financial statement and conclusion of the bank's Auditing commission for 2002, approved results of activity of the bank's Board, and decided to: - keep from distributing profit between shareholders by cash, which was received in 2002 (equaling to KZT209.5 m.), and undistributed income of previous years (KZT15.1 m.) in accordance with the necessity to accumulate funds for making payments for following issues of the bank's shares; - confirm size of interest to the bank's officials; - form reserve capital at the rate of not less than 15% volume of assets, which are not subjected to classification; - make the second issue of coupon subordinate bonds with the following parameters: issue volume - KZT3.0 bn., number of bonds - 3,000,000,000 units, interest rate - 11.0% APR, circulation term - 7 years; - make additional 6th issue of common inscribed shares consisting of 2,000,000 units, which will be floated among shareholders (using first option) and unlimited range of persons; - include changes into the bank's charter; - approve decision of the Board of directors about paying expenses of members of the Board of directors of TEXAKABANK OJSC concerned with business trips in compliance with Kazakhstan legislation; - approve KPMG Janat (Almaty) and O. Safonova as the bank's auditors. Besides, shareholders elected new staffs of: - Board of directors consisting of four persons: Gregory N. Stewder (Chairman), I. Gekko (First Deputy Chairman), Henry Dal (Deputy Chairman), Vinks Akkerson (member of the Board of directors); - Governing body consisting of seven persons: E. Messerle (President), I. Stepanova (First deputy President), G. Atarbaev (Deputy President), V. Baryshev (Deputy President), E. Damitov (Deputy President), V Kim (Chief accountant); - Auditing commission consisting of three persons: E. Stetsenko (Chief), Morin Stewder and O. Safonova (members of commission). [2003-07-14]