UKTMC JSC (Kazakhstan) has presented KASE the extract from shareholders register as of May 19, 2004

/KASE, July 8, 04/ - Ust-Kamenogorsk titanium -magnesium combine OJSC (UKTMC OJSC, Ust-Kamenogorsk), whose shares are traded in Kazakhstan stock exchange's (KASE) official "A" listing category, has presented KASE the extract from securities holders register as of May 19, 2004. The company's register holder is Registration system of securities CJSC (Almaty). Announced authorized capital of UKTMC OJSC as of May 19, 2004 was KZT 119,780,100.00, paid-up capital - 40,751,140.00. Total number of floated shares - 2,037,557 of which preferred shares - 107,910. According to the extract total number of holders of the company's common shares is 4, preferred - 2,974. The following entities possessed the stake exceeding 5% of the company's authorized capital by the mentioned date: --------------------------------------------------------------------------------- Number of shares, units ------------------------- Stake in Shareholder or authorized (paid) nominal holder KZ1C05500018 KZ1P05500114 capital, % ------------------------------------- ------------ ------------ ----------------- Private individual (Ust-Kamenogorsk, Kazakhstan) 97,120 5,452 5.03 Central depository of securities CJSC (Almaty, Kazakhstan)* 418,906 48,742 22.95 Specialty Metals Company (Brussels, Belgium) 1,402,830 4,007 69.05 --------------------------------------------------------------------------------- * nominal holder [2004-07-08]