Kazkommertsbank JSC (Kazakhstan) to begin paying dividends on preferred shares for 2003 on December 10

/KASE, June 10, .04/ - Kazkommertsbank JSC (Almaty) with securities listed under official "A" category of Kazakhstan Stock exchange (KASE) released a statement on results of annual general shareholders meeting held on May 31, 2004. Pursuant to agenda of the meeting shareholders approved financial statements of the bank for 2003 and made following decisions. Shareholders decided not to pay dividends on common shares, but to retain earnings of 2003. The bank will announce dividends on preferred shares in amount provided in Prospectus of the issues (that totals $0.04 per share - note IRBIS). Dividends will be paid beginning on 10 December, 2004. Ex-dividend day - 10 November, 2004. The company will host a tender for auditing companies. Chosen auditor will have to be approved by extraordinary shareholders meeting. Shareholders approved following deals that are of interest to Kazkommertsbank JSC: - insurance agreement with Insurance Company Kazkommerts-Policy OJSC for indefinite time period on insuring the property and the risks of the bank in compliance with tariffs of the given insurance company; - agreement with Public Foundation Charitable Trust Kus Zholy on rendering charitable help to this foundation by transferring any property in pre-agreed budget of the bank or at discretion of the Chairman of the Board; - agreement with Kazkommerts Securities OJSC on bearing guarantees of Kazkommerts Securities OJSC for its employees who will receive corporate electronic cards issued by bank. - agreement with Kazkommertsbank Kyrgyzstan OJSC on concluding transactions on purchase and sale on POS terminals, concentrator for POS terminal, spare parts and supplies for ATMs for atotal amount of USD13,730, an agreement on acquisition of equipment for amount not less than USD79.0 th; - agreement with the European Bank for Reconstruction and Development (the EBRD) for a credit line extension under the program of grain receipts from USD 25.0 m to USD 40 m with maturity in April 30, 2005, on changing the length of interest bearing period from 1 month to 6 months keeping EBRD margin valid; on changing interest rate on credit line from one month LIBOR+1.5% for 6 months LIBOR+1.5% and amend corresponding documents and terms of loan agreement; - agreement with Moskommertsbank OOO on granting syndicated loans to residents of the Russian Federation under following terms: loan amount 10.0 to 100.0 million US dollar, interest rate - 9 to 15%, term 1 year to 7 years, collateral -fixed assets, securities, guarantees; - with private customers/partners/ or other affiliated persons with bank on concluding agreements regulated by internal documents of the bank. [2004-06-10]