Astana Finance OJSC (Kazakhstan) intends to issue coupon indexed sucured debt for KZt1.0 b and to attract loans for $63.0

/KASE, October 17, 03/ - ОАО "Астана-финанс" (Астана), whose securities are circulating under official "A" listing category of the Kazakhstan Stock exchange CJSC (KASE), submitted KASE a copy of minutes of general prescheduled shareholders' meeting, which took place on October 2, 2003. During the last meeting the shareholders of Astana-Finance OJSC decided not to include into the agenda of that meeting the issue on early abdication of the Board of Directors' members, which was proposed by the representative of the major shareholder (local administration of Astana), and include issue on determination of the size of interest payment for the members of the Board of Directors. In accordance with the agenda of the meeting shareholders of Astana- Finance OJSC approved the size of annual interest the Board of directors, decided not to dividends by company's activities result for the first half year in 2003, and approved the following decisions. About conclusion of deals by the company, which are of interest to them and to be soon concluded within three months, and authorization of Astana- Finance OJSC by the Board and /or credit committee in terms of determination of terms and conditions under which such deals are concluded within following limits Astana-Nedvizhimost OJSC - KZT8,288.0 m, Akzhayiyk-Nedvizhimost' OJSC - KZT1,353.0 m, Atyrau-Nedvizhimost - KZT1,129.0, AstanaGasService OJSC - by KZT70.0 m, Ekoton OJSC - KZT300.0 m, Sanatorium Priozernyi - KZT10.0 m, KSK Kulager - KZT10.0, Television of Astana City - KZT30.3 m On major deals: On attracting of loans for $15.0 m for the development of KAMAZ leasing program; On attracting a loans for $3.0 bn for the development of passenger cars leasing program; on attracting loans for $45.0 m for the development of agricultural machinery leasing program; on conclusion of factoring agreements with Standart Leasing Corporation company for amount of obtaining loans from financial institutions. On making additions to the terms of the second issue bonds (additions are registered by the National Bank of the Republic of Kazakhstan on July 30, 2003), concerning protection of investors' rights when tenge revaluation takes place (in case of revaluation indexing coefficient Kd equals to 1). Moreover, the shareholders of Astana-Finance OJSC decided to produce third issue of inscribed coupon indexed (on tenge devaluation rate to dollar with the hedge against revaluation) bonds, secured by pool of mortgages, with the following main parameters - KZT100, coupon rate - 7-8% APR, circulation term 5 years. Astana-Finance OJSC is a non-banking financial institution, whose primary activities are certain types of banking services, investment services, financing of economical and social projects on Astana city development, and other activities in accordance with the Charter and existing licenses. [2003-10-17]