/KASE, July 18, 03/ - Kazakhstan Mortgage Company CJSC (Almaty), whose bonds are circulating in Kazakhstan stock exchange's (KASE) official "A" listing category, provided KASE with financial statement for the I half-year of 2003.

The following indicators are result of the issuer's financial and economic activity in the I half-year of 2003, based upon the issuer's information (in th. KZT):

------------------------------------------------------------
                                As of       As of
Indicator                  July 1, 02  July 1, 03   Change,%
-------------------------  ----------  ----------  ---------
Authorized capital (paid)   1,000,000   1,500,000      +50.0
Shareholders' equity        1,081,807   1,683,477      +55.6
Total assets                1,083,865   2,321,256     +114.2
Liquid assets                 720,785     503,645      -30.1
Mortgage loans                303,072   1,788,204     +490.0
Liabilities, total              2,058     637,779  +30,886.0
Issued bonds                        -     609,204          -
Total revenues                 70,298     144,576     +105.7
Total expenses                 38,491      77,802     +102.1
Net income for the period      31,807      66,774     +109.9
------------------------------------------------------------

Relative to similar period of 2002 there is increase of:

• shareholders' equity - by KZT601.7 m. as the result of increase of the paid part of authorized capital by 500.0 m. (floatation of shares of the 2nd issue), reserve capital - by 66.7 m. and total sum of net income - by 35.0 m.;
• assets - by KZT1.2 bn. that was caused by increase of the volume of mortgage loans - by 1.5 bn., whereas there took place decrease of other assets by 292.3 m.;
• liabilities - by KZT635.7 m., including: in accordance with floatation of bonds for 609.2 m. and increase of other liabilities by KZT26.5 m.;
• revenues - by KZT74.3 m;
• expenses - by KZT39.3 m.

Net income, which Kazakhstan Mortgage Company CJSC received by the results of the I half-year of 2003, exceeded income of similar period of 2002 by KZT35.0 m.

Company's primary activities - loan operations (giving credits in monetary form on the terms of paying off, urgency and giving back), factoring operations (purchasing of rights of payment requirement from consumer of goods (works, services) with assumption of the risk of non-payment).

[2003-07-18]