Auditor's conclusion on consolidated financial statement of RG Brands OJSC (Kazakhstan) for 2002

/KASE, August 11, 03/ - RG Brands OJSC (Almaty), whose bonds are circulating in Kazakhstan stock exchange's (KASE) official "А" listing category, has presented KASE auditor's report of Price Waterhouse Coopers (Almaty), which was made on the company's consolidated financial statement for 2002, which had been prepared in compliance with Kazakhstan auditing standards. Following indicators are the result of the company's financial and economic activity in 2002 (th. KZT, unless otherwise specified): ----------------------------------------------------------- Indicator 2001 2002 --------------------------------------- --------- --------- Authorized capital (paid) 705,000 1,478,023 Shareholders' equity 797,971 1,509,068 Assets, total 1,802,377 4,447,436 Net working capital 696,296 961,814 Accounts receivable, total 536,564 2,149,589 Liabilities, total 1,004,346 2,938,368 Attracted credits 758,322 1,922,390 Long-term rent liabilities (leasing) 197,717 336,171 Accounts payable 48,307 679,807 Volume of sold goods (services) 838,979 1,664,357 Cost of sold goods (services) 621,164 1,279,677 Net income 21,194 162,743 --------------------------------------- --------- --------- It's been calculated by auditor's data: --------------------------------------- --------- --------- Return on sales (ROS), % 25.96 23.11 Return on equity (ROE), % 2.66 10.78 Return on assets (ROA), % 1.18 3.66 ----------------------------------------------------------- Audit of financial statement of the company and its subsidiary companies (hereinafter-Group) was made by Price Waterhouse Coopers in compliance with Kazakhstan auditing standards. The group's consolidated financial statement for 2002 comprises financial statement of RG Brands OJSC and its daughter companies: PRG Bottlers OJSC (Almaty, production and bottling of nonalcoholic gas drinks), in which RG Brands OJSC possesses 100% of floated shares, Tealand LLP (Almaty, packing and sale of tea), in which RG Brands OJSC possesses 100% stake in the paid authorized capital). In the auditor's opinion consolidated financial reports in all essential aspects for sure reflect financial position of RG Brands OJSC and its daughter companies as of December 31 of 2002, results of their financial and economic activity and cash flow for the year, which ended by that date, in compliance with Kazakhstan accounting standards. Besides, keeping from making reservations in the conclusion, the auditor pays attention on the fact that, as is stated in Note 18 to consolidated financial reports of the Group, the significant part of assets of RG Brands OJSC and its daughter companies has been placed in related sides, and significant stake of revenues of RG Brands OJSC and its daughter companies is the result of operations with related sides. Related sides can make operations, which would not be made with non-related sides on conditions and in the sums, which can be different from conditions and sums of operations with non-related sides. Company's primary activities - production and sale of natural juices and drinks, rendering of marketing services. [2003-08-11]