Changes in the Board of Directors of Astana-finance JSC (Kazakhstan)

/KASE, June 7, 04/ - Astana-finance JSC (Astana) with securities listed under "A" official category of Kazakhstan Stock Exchange JSC (KASE) presented a copy of minutes of annual general shareholders meeting held on May 27, 2004. Shareholders approved financial statements of Astana - finance JSC for 2003, management report, and report of check up committee. Moreover, shareholders decided to retain 80%(KZT199,925.4 th) of net income earned in 2003), and distribute 20% of that amount (KZT49,981.4 th) in form of dividends on shares (detailed information on dividends distribution by Astana-finance JSC was published in KASE news on June 2, 2004 - note. KASE). Shareholders approved deals on extending a credit line by Bank TuranAlem JSC from 5.0 to 10.0 bn USD with maturity up to 2 years and avalizing for USD350.0 m. The meeting also approved the cost of contracts proposed for signing by affiliated companies for 2004-2007 as well such contracts execution at the expense of funds of Astana-finance JSC for a total of KZT7.5 bn (KZT3.4 bn for Akzhaiyk-realty OJSC, KZT2.9 bn for Atyrau - Realty OJSC, KZT11.0 m for Kumys-Kaskyr LLP, mortgage lending - KZT1.0 bn). Credit committee was given all necessary authorities to arrange agreements. Two loans to be borrowed by affiliated private persons for KZT47.7 m and KZT11.0 m was approved. Shareholders elected Nurpeisov Zharkyn Begeshevoch as the new Chairman of the Board of Directors of Astana-finance JSC. Astana-finance is a non-banking financial institution that carries limited number of banking activities as well as investment projects associated with the development of infrastructure and major economic fields of Astana city. [2004-06-07]