Auditor's report on consolidated financial statement of Astana-finance JSC (Kazakhstan) for 2003

/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): ------------------------------------------------------------- Indicator 2002 2003 ------------------------------------- ---------- ---------- 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 ------------------------------------- ---------- ---------- Calculated by auditor's data: ------------------------------------- ---------- ---------- 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 ------------------------------------------------------------- * - 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]