A FINAL PART OF GOVERNMENT'S INTEREST IN UKTMC OJSC (4.5% OF TOTAL SHARES) WAS SOLD AT KASE FOR KZT441.4 M AT KZT9,003.00 - KZT9,100.01 PER SHARE

/KASE, January 30, 04/ - Today during another trades in government's interest in UST-KAMENOGORKS TITANIUM MAGNESIUM COMBINE open joint-stock company (UKTMC OJSC, Ust-Kamenogorsk) at Kazakhstan Stock Exchange (KASE), 48,560 common shares of UKTMC OJSC were sold for KZT441,373,116.65. The mentioned amount is equivalent to USD3,166,007.58 at today's weighted average tenge exchange rate relative to dollar (KZT139.41 per dollar). The subject of trades are common voting shares of UKTMC OJSC that were offered for sale without lot restrictions by the Committee of state property and privatization under the Ministry of finance of the Republic of Kazakhstan (the Committee) in form of so-called SPS (State Package of Shares). Initially, the package consisted of 59,350 common shares of the plant (5.5% of total floated company's equity, trade code - NZ_UTMK_5.5). The method of trades was the same as during previous days. As a result of trades held at KASE on January 30, the authorized seller managed to cash in the final part of government's interest in UKTMC OJSC in three deals: 5,395 shares were sold at KZT9,003.00 ($64.58) per security; 37,770 shares - at KZT9,100.01 ($65.28) per security; 5,395 shares - at KZT9,100.01 ($65.28) per share. Weighted average price of one share equaled KZT9,089.23, or equivalent of $65.20 at current exchange rate. Stated bids varied from KZT20.00 to KZT10,000.0 per share. Three members of KASE including KIB ASSET MANAGEMENT Ltd. JSC (Almaty) who performed as a seller authorized by the Committee, took part in trades. The other two members acted as buyers, representing the interests of investors. 48,560 shares sold today are: 81.8 percent of NZ_UTMK_5.5 offered for sale; 21.4 percent of government's interest in UKTMC OJSC being sold at KASE since January 26; 4.5 percent of total paid-in capital of the plant and 5.0% of all voting shares of the company. According to rules of the exchange proceeds for buying shares have to 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 valid. [2004-01-30]