Results of activity of UKTMC OJSC (Kazakhstan) for 9 months of 2003

/KASE, November 3, 03/ - UKTMC OJSC (Ust-Kamenogorsk), whose shares are circulating in Kazakhstan stock exchange's (KASE) official "A" listing category, provided KASE with financial statement for 9 months of 2003. The following indicators are the result of the issuer's financial and economic activity for 9 months of 2003, based upon the issuer's data (in th. KZT, unless other wise specified): ------------------------------------------------------------ As of As of Indicator Oct 1, 02 Oct 1, 03 Change,% ---------------------------- --------- --------- -------- Authorized capital (paid) 21,582 21,582 0.0 Shareholders' equity 7,545,728 7,456,606 -1.2 Total assets 8,393,533 8,371,930 -0.3 Net working capital 2,855,002 2,811,968 -1.5 Accounts receivable 1,055,427 989,084 -6.3 Liabilities, total 847,605 915,324 +8.0 Accounts payable 763,242 862,482 +13.0 Sales volume 8,390,952 6,728,038 -19.8 Cost of goods sold 6,356,636 5,842,839 -8.1 Net income for the period 1,111,717 45,306 -95.9 Book value of one share, KZT 6,992.61 6,910.02 -1.2 ------------------------------------------------------------ Relative to 9 months of 2002 there are following changes: - shareholders' equity decreased by KZT89.1 m. as the result of decrease of total sum of undistributed income by the same sum; - assets decreased by KZT21.6 m., that was caused by decrease of money by 300.4 m., accounts receivable - by 66.3 m. and intangible assets - by 1.3 m., whereas there took place increase of inventory by 338.6 m. and residual value of fixed assets - by 7.8 m.; - liabilities increased by KZT67.7 m., including: accounts payable - by 99.2 m. and deferred income tax - by 52.8 m., that was partially covered by the decrease of reserve of forthcoming payments - by 84.4 m.; - sales volume decreased by KZT1.7 bn.; - cost of goods sold decreased by KZT513.8 m.; Net income, which UKTMC OJSC received according to results of 9 months of 2003, decreased relative to similar period of 2002 by KZT1.1 bn. Company's primary activities - production and sale of non-ferrous metals (high-quality titanium sponge, and commercial magnesium). [2003-11-03]