5,395 SHARES OF 5.5 GOVERNMENT'S INTEREST IN UKTMS OJSC WERE SOLD AT KASE FOR KZT55.0 M AT KZT10,200 PER SHARE

/KASE, January 28, 04/ - Today during the trades in government's interest in UKTMC OJSC (Ust-Kamenogorsk) at Kazakhstan Stock Exchange (KASE), 5,395 common shares of UKTMC OJSC were sold for KZT55,029,000.00. The mentioned amount is equivalent to USD394,756.10 at today's weighted average tenge exchange rate relative to dollar (KZT139.40 per dollar). Thus, only 9.1 percent of the whole number of securities - 59,350 common shares (5.5% of total shares issued by UKTMC OJSC, trade code - N_UTMK_5.5), possessed by the government, and which are offered for sale, has been sold today. The package were traded in tenge in lots of 1 share by open trades method, in course of which parties agreed on KZT5,200 price. The seller lowered his ask from KZT14,500, buyers increased their bid from KZT3,000. During the trades, where KIB ASSET MANAGEMENT JSC (Almaty) performed as a seller authorized by the Committee of state property and privatization of the Ministry of the Republic of Kazakhstan, the former was quoting only 5,395 shares, whereas buyers intended to purchase the whole portfolio. After reaching a consensus at mentioned price level, trades were continued by Frankfurt's method. During these trades, the seller was changing its quotations from package's tenth part to the whole portfolio, while three purchasers, competing with each other, changed their bid prices 49 times. As a result the only deal of today's trades was concluded at KZT10,200.00 per share ($73.17) with the volume of 5,395 stocks or 0.50% of total amount of outstanding shares of UKTMC OJSC. According to the exchnage's rules, proceeds from shares sale must be transferred by the buyer to a corresponding account of Central Depository of Securities CJSC (Almaty) within seven working days after deal conclusion. Only in this case a deal may me considered as valid. To remind, government's interest in UKTMC OJSC that consists of 107,910 common shares (10.0% of total number of floated shares, KASE trade code- NZ_UTMK_10) was sold at the exchange on January 26 in a single lot for KZT777,167,820.00 (equivalent of USD5,571,095.48) at KZT7202.00 per share ($51.63). According to KIB ASSET MANAGEMENT Ltd. JSC trades in the rest shares of a government's interest in UKTMC OJSC will be continued tomorrow, January 29. [2004-01-28]