/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):

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                                  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
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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]