Auditor's report on financial statement of ARNA OJSC (Kazakhstan) for 2002

/KASE, August 4, 03/ - ARNA OJSC (Almaty), whose bonds are circulating in Kazakhstan stock exchange's (KASE) "А" listing category, has presented KASE auditor's report made by PriceWaterhouseCoopers (Almaty), which had been made on the company's financial statement for 2002, prepared in compliance with Kazakhstan accounting standards. Result of the company's financial and economic activity as of December 31 of 2002 is presented by the following indexes, based on the auditor's data (in th. KZT, unless otherwise specified): ----------------------------------------------------------------------- Indicator As of As of Jan 1, 02 Jan 1, 03 ------------------------------------------------- --------- --------- Authorized capital (paid) 5,000 5,000 Shareholders' equity 1,137,398 1,188,680 Total assets 1,477,705 1,936,994 Net working capital 570,432 281,635 Accounts receivable 753,320 829,550 Liabilities, total 340,307 748,314 Attracted credits 153,675 333,287 Accounts payable 186,632 415,027 Volume of rendered services 1,303,457 1,649,422 Cost of rendered services 842,541 1,181,049 Net income for the period 170,081 51,281 ------------------------------------------------- --------- --------- It's been calculated according to auditor's data: ------------------------------------------------- --------- --------- Return on sales (ROS), % 13.05 3.11 Return on equity (ROE), % 14.95 4.31 Return on assets (ROA), % 11.51 2.65 ----------------------------------------------------------------------- Audit of the financial statement for 2002 was conducted by PriceWaterhouseCoopers in compliance with Kazakhstan auditing standards. In the auditor's opinion the financial statement exactly in all essential aspects reflects financial position of ARNA as of December 31 of 2002, results of its activity and cash flow for the year, which ended by the same date, in compliance with Kazakhstan accounting standards. Company's primary activities - introduction and exploitation of networks and systems of electronic and radio communications; development, introduction and exploitation of new technologies and services in the sphere of telecommunication, information science. [2003-08-04]