Auditor's report on financial statement of PetroKazakhstan Oil Products OJSC (Kazakhstan) for 2003

/IRBIS, Galina, Tsalyuk, August 5, 04/ - PetroKazakhstan Oil Products OJSC (Shymkent), whose shares are circulating in the official "B" listing category of Kazakhstan stock exchange Inc. (KASE), has presented to KASE the auditor's report made by Deloitte & Touche (Almaty) on the company's financial statement for 2003, which was made in compliance with Kazakhstan accounting standards (KAS). According to audited financial statement's data the result of the company's financial and economic activity as of December 31 of 2003 is as follows (th. KZT, unless otherwise indicated): ---------------------------------------------------------------- Indicator 2002 2003 ------------------------------------------ ---------- ---------- Authorized capital (paid) 62,256 62,256 Shareholders' equity 40,323,854 49,702,283 Total assets 48,551,217 60,670,120 Net working capital 32,337,464 39,112,930 Accounts receivable (net) 33,839,364 45,270,541 Total liabilities 8,227,363 10,967,837 Accounts payable 4,221,596 5,445,233 Issued bonds 2,051,942 3,525,392 Issued promissory notes 1,953,825 1,953,825 Income from sales 40,036,918 43,421,835 Cost of goods sold 24,517,327 23,740,478 Net income 7,981,228 9,380,310 ------------------------------------------ ---------- ---------- Calculated according to audited statement: ------------------------------------------ ---------- ---------- Return on sales (ROS), % 38.76 45.33 Return on equity (ROE), % 19.79 18.87 Return on assets (ROA), % 16.44 15.46 Earning per share (EPS), KZT 128.87 151.47 Book value of one share, KZT 647.72 798.36 ---------------------------------------------------------------- Price earnings ratio (P/E) was not calculated because market deals in company's common shares were absent in the mentioned years. Audit of the company's financial statement was made by Deloitte & Touche in compliance with International and Kazakhstan auditing standards. In the auditor's opinion, the financial statement in all essential aspects for sure reflects the company's financial condition 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 KAS. Company's primary activities - petroleum refining and oil products sale. [2004-08-05]