/CORRECTED/ MEKKAM-3 of Ministry of Finance of Kazakhstan of the 298th emission - results of offering

/IRBIS, Sergey Yakovlev, September 7, 04, resent because of a mistake in KASE code of bonds of the floated issue/ - Today the Ministry of Finance (MOF) and the National Bank of Kazakhstan held the 298th auction for MEKKAM-3 offering (91 days). Size of satisfaction for noncompetitive applications is 30% of specified amount. Following is the issue structure, results of bonds offering and comparison with previous similar comparable issue: -------------------------------------------------------------------- Type of the securities МЕККАМ-3 МЕККАМ-3 NIN KZK1KM032981 KZK1KM032973 KASE trade code MKM003_0298 MKM003.297 IRBIS registration number 298/3 297/3 Par value, KZT 100.00 100.00 Day count convention actual/365 actual/365 Offering date (auction) Sep 7, 04 Sep 30, 03 Payment date Sep 8, 04 Sep 30, 03 Circulation start date Sep 9, 04 Oct 1, 03 Maturity date Dec 8, 04 Dec 30, 03 Days in circulation 91 91 Planned volume. KZT m 5,000.0 (+2,000.0) Number of participants - Primary dealers 14 (+4) Demand. KZT m 15,534.0 (+13,378.8) Yield on demand weighted average, % APR 4.42 (-2.68) Actual volume, KZT m 7,718.9 (+5,815.5) Cut-off price, KZT 99.15 (+0.65) Weighted average price, KZT 99.19 (+0.63) Max yield % APR 3.44 (-2.67) WA yield, % APR 3.28 (-2.58) WA effective yield, % APR 3.32 (-2.67) -------------------------------------------------------------------- According to information of the National Bank, there were no applications to the auction submitted by non-residents. Relative to previous successful offering of discount bonds of the Ministry of finance (KZK1KY010828, MEKKAM-12#82 dated July 21, 04) demand rose by KZT1,257.1 m (1.1 times), actual floating volume fell by KZT6,558.0 m (1.8 times), effective yield fell from 4.79% to the value indicated in the table. [2004-09-07]