MEKKAM-12 of Ministry of Finance of Kazakhstan of the 81st issue - results of offering

/IRBIS, May 12, 04/ - Today the Ministry of Finance (MOF) and the National Bank of Kazakhstan held the 81st auction for MEKKAM offering (365 days). Size of satisfaction for noncompetitive applications is 30% of specified amount. Following is the issue structure, results of bonds offering and comparison with previous similar comparable issue: -------------------------------------------------------------------- Type of the securities MEKKAM-12 MEKKAM-12 NIN KZK1KY010810 KZK1KY010802 KASE trade code MКM0012_081 MEM012_0080 IRBIS registration number 81/12 80/12 Par value, KZT 100.00 100.00 Day count convention actual/365 actual/365 Offering date (auction) May 12, 04 Apr 12, 04 Payment date May 13, 04 Apr 13, 04 Circulation start date May 14, 04 Apr 14, 04 Maturity date May 13, 05 Apr 13, 05 Days in circulation 365 365, Planned volume. KZT m 3,000.00 (-500.0) Number of participants - Primary dealers 11 (+1) Demand. KZT m 6,119.2 (+516.8) Yield on demand weighted average, % APR 5.12 (-0.24) Actual volume, KZT m 3,971.5 (+1 034.5) Cut-off price, KZT 95.17 (+0.03) Weighted average price, KZT 95.18 (+0.04) Max yield % APR 5.08 (-0.03) WA yield, % APR 5.06 (-0.05) WA effective yield, % APR 5.06 (-0.05) -------------------------------------------------------------------- According to information of the National Bank, there were no applications to the auction submitted by non-residents. Relative to previous successful offering of discount bonds by Finance Ministry (KZK1KM061766, MEKKAM-6#176 dated May 5, 04) demand rose by KZT2,621.2 m (1.7 times), actual volume of satisfied bids - by KZT2,477.9 m (2.7 times), effective yield rose from 4.95% to the value indicated in the table. [2004-05-12]