/CORRECTED/ MEOKAM-120 of Ministry of Finance of Kazakhstan of the second issue - results of floatation

/IRBIS, September 18, 03, resent in accordance with a mistake in the fixed rate/ - Today the Ministry of Finance (MOF) and the National Bank of Kazakhstan held the auction for MEOKAM-120 offering (3650 days) of the second issue. Size of satisfaction for noncompetitive bids is 30% of specified amount. Following are results of floatation. ---------------------------------------------------------------------------- Type of securities MEOKAM-120 MEOKAM-120 NSIN KZK2KY100024 KZK2KY100016 KASE trade code MOM120.002 MOM120.001 IRBIS registration number 2/120 1/120 Par value, KZT 1,000.00 1,000.00 Offering date (auction) Sep 17, 03 Sep 10, 03 Payment date Sep 18, 03 Sep 11, 03 Circulation start date Sep 19, 03 Sep 12, 03 Maturity date (planned/actual) Sep15,13/Sep16,13 Sep8,13/Sep9,13 Days in circulation 3650 days 3650 days (10 years) (10 years) Coupon payments dates (planned/actual) 1 Mar18,04/Mar18,04 Mar11,04/Mar11,04 2 Sep17,04/Sep17,04 Sep10,04/Sep10,04 3 Mar18,05/Mar18,05 Mar11,05/Mar11,05 4 Sep17,05/Sep19,05 Sep10,05/Sep12,05 5 Mar18,06/Mar20,06 Mar11,06/Mar1306 6 Sep17,06/Sep18,06 Sep10,06/Sep11,06 7 Mar18,07/Mar19,07 Mar11,07/Mar12,07 8 Sep17,07/Sep17,07 Sep10,07/Sep10,07 9 Mar17,08/Mar17,08 Mar10,08/Mar10,08 10 Sep16,08/Sep16,08 Sep9,08/Sep9,08 11 Mar17,09/Mar17,09 Mar10,09/Mar10,09 12 Sep16,09/Sep16,09 Sep9,09/Sep9,09 13 Mar17,10/Mar17,10 Mar10,10/Mar10,10 14 Sep16,10/Sep16,10 Sep9,10/Sep9,10 15 Mar17,11/Mar17,11 Mar10,11/Mar10,11 16 Sep16,11/Sep16,11 Sep9,11/Sep9,11 17 Mar16,12/Mar16,12 Mar9,12/Mar9,12 18 Sep15,12/Sep17,12 Sep8,12/Sep10,12 19 Mar16,13/Mar18,13 Mar9,13/Mar11,13 20 Sep15,13/Sep16,13 Sep8,13/Sep9,13 Planned volume. KZT m 2,000.0 (+ 1,000.0) Number of participants - Primary dealers 6 (- 8) Demand. KZT m 2,415.8 (- 7,429.8) Maximum yield on demand, % APR 10.99 (- 9.01) Actual volume, KZT m 1,265.6 (+ 265.6) Fixed rate, % APR 6.48 (+ 0.04) ---------------------------------------------------------------------------- According to information of the Ministry of finance, no bids were submitted to the auction from non-residents. Relative to previous successful floatation of МЕОКАМ dated September 15 of 2003 (МЕОКАМ-36, KZK2KY030601, coupon rate 5.68% APR) demand has decreased by KZT3,068.2 m. (2.3 times), actual volume of satisfied bids - by KZT3,144.4 m. (3.5 times). [2003-09-18]