Results of activity of PAPF Kazakhstan JSC (Kazakhstan) in the first half of 2004

/IRBIS, Galina Tsalyuk, October 11, 04/ - PAPF Kazakhstan JSC (Almaty), whose shares are in the official "B" listing category of Kazakhstan stock exchange Inc. (KASE), provided KASE with financial statement for the first half of 2004. Following indicators are the result of the issuer's financial and economic activity in the first half of 2004, based upon the issuer's data (th. KZT, unless other wise specified): ---------------------------------------------------- As of As of Indicator Jan 1, 04 Jul 1, 04 ---------------------------- ---------- ---------- Authorized capital (paid) 382,000 500,000 Shareholders' equity 372,194 490,067 Total assets 412,752 493,520 Investments into securities 76,518 171,248 Accounts receivable 60,134 106,851 Deposits in banks 148,185 115,934 Total liabilities 40,558 3,453 Accounts payable 40,558 3,453 Total revenues 132,802 22,242 Total expenses 161,611 14,110 Net income (loss) (28,809) 8,132 Book value of one share, KZT 974.33 980.13 ---------------------------- ---------- ---------- Net pension assets 10,582,038 12,084,493 ---------------------------------------------------- No comparison with similar period of 2003 is given because KASE does not possess any financial statement of the issuer for the I half of 2003. Primary activities of PAPF Kazakhstan JSC - collection of compulsory, volunteer and professional volunteer pension fees, other funds coming in compliance with pension legislation of Kazakhstan, making of pension payments to their recipients, and conducting of activity for formation of pension assets and their investing in the order set by Kazakhstan legislation. [2004-10-11]