/IRBIS, Galina Tsalyuk, June 18, 04/ - Astana-finance JSC (Almaty) , whose securities are circulating in the official "A" listing category Kazakhstan stock exchange Inc. (KASE), has presented to KASE auditor's report, which was made by Deloitte & Touche (Almaty) on the company's consolidated financial statement for 2003, prepared in compliance with international accounting standards (IAS).

According to auditor's report the result of the company's consolidated financial and economic activity as of December 31, 2003 is as follows (th. KZT, unless otherwise indicated):

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Indicator                                    2002        2003
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Authorized capital (paid)               1,876,342   1,876,343
Weighted average shares, units          1,830,971   1,876,342
Shareholders' equity                    2,197,254   2,447,162
Total assets                           15,321,606  21,388,463
Loans to clients (net)                  4,015,903   6,011,114
Floatations and loans to banks (net)      365,095     805,655
Building objects                        4,723,857   4,932,473
Accounts receivable (net)               2,423,101   4,359,778
Total liabilities                      13,096,290  18,516,178
Borrowed loans (excluding bonds)        6,480,856   8,934,415
Issued bonds                            2,947,365   5,195,150
Accounts payable                        3,513,678   4,385,662
Net interest income before reserves       400,006     408,418
Net non-interest income                 1,275,876   2,268,377
(Formation)/reimbursement of reserves      28,412   (242,674)
Net income                                199,640     249,907
Earnings per share, KZT*                   109.04      133.19
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Calculated by auditor's data:
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Return on equity (ROE), %                    9.09       10.21
Return on assets (ROA), %                    1.30        1.17
Book value of one share, tenge           1,171.03    1,304.22
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* - calculated by auditor per weighted average number of shares.

Audit was conducted by Deloitte & Touche in compliance with international auditing standards. The consolidated financial statement was correspondingly corrected in order to bring it in conformity with IAS.

The consolidated financial statement comprises financial statement of Astana-finance JSC and following daughter companies, in which the company owns 50% and more of total number of floated shares or has 100% stake of participation (hereinafter - Group): Atyrau-Nedvizhimost OJSC (Atyrau, building, 100.0%), Kymis-Kaskyr LLP (Astana, protection services, 100.0%), Standard Leasing Corporation (Astana, leasing operations, 100.0%), Astana-Nedvizhimost OJSC (Astana, building, 80.0%), Astana Gas Service OJSC (Astana, natural gas sale, 91.35%), Akzhaiyk-Nedvizhimost OJSC (Uralsk, building, 70.0%), AREK CJSC (Akmola oblast, transfer and distributing of electrical power, 50.4%) and Ecoton OJSC + (Astana, production of building materials, 50.0%).

In the opinion of Deloitte & Touche the consolidated financial statement for sure in all essential aspects represents the financial position of the Group as of December 31 of 2003, and also results of its activity and cash flow for the year, which ended by this date, in compliance with IAS.

[2004-06-18]