/CORRECTED/ Results of activity of Development Bank of Kazakhstan JSC (Kazakhstan) for 9 months of 2004

/IRBIS, Gallina Tsaluyk, November 11, 04, resent because of incorrectly shown data on revenues, expenses and net income for 9 months of 2004/ - Development Bank of Kazakhstan CJSC (Astana), whose bonds are circulating in Kazakhstan stock exchange's (KASE) official "A" listing category, provided KASE with the financial statement for 9 months, 2004. The following indicators are results of the bank's financial and economic activity for 9 months of 2004, based upon the bank's information (in th. KZT): ----------------------------------------------------------------- As of As of Change, Indicator Oct 1, 03 Oct 1, 04 % ------------------------------- ---------- ---------- -------- Authorized capital (paid) 37,700,000 45,365,000 +20.3 Shareholders' equity 41,728,897 52,010,818 +24.6 Book value assets 61,348,043 96,732,072 +57.7 Liquid assets 44,804,800 69,259,108 +54.6 Reverse repo transactions 18,330,770 100,000 -99.5 Securities 21,269,592 62,024,059 +191.6 Credits granted (net) 15,872,331 25,097,300 +58.1 Total liabilities 19,619,146 44,721,254 +127.9 Borrowed loans (including repo) 0 10,872,463 - Deposits and accounts 30,451 3,961,614 12,909.8 Issued bonds 19,504,065 29,359,707 +50.5 Total revenues 3,617,039 12,400,025 +242.8 Total expenses 2,398,544 9,748,418 +306.4 Net income for the period 1,218,495 2,624,747 +115.4 ----------------------------------------------------------------- Relative to 9 months of 2003 the following grew: - bank shareholders' equity by KZT10.3 bn. including: paid authorized capital - by 7.7 bn, reserve capital - by 1.2 bn. and undistributed income - by 1.4 bn. - assets - by KZT35.4 bn. that was caused by increase of securities in bank's portfolio by 40.7 bn, net volume of loan portfolio - by 9.2 bn., amounts on correspondent and other accounts in banks - by 1.9 bn. and other assets - by 1.7 bn. with decrease of volume of reversed repo operations by 18.2 bn.; - liabilities - by KZT25.1 bn. as the result of loan borrowings (including repo) for the amount of 10.9 bn., increase of volume of issued bonds by 9.8 bn., rests at deposit and other accounts - by 3.9 bn. and other liabilities - by 442.8 m. - income - by KZT8.8 bn. - expenses - by KZT7.3 bn. Net income earned by Development Bank of Kazakhstan CJSC during 9 months of 2004 exceeded its net profit of similar period of 2003 by KZT1.4 bn. Primary activity - rendering of banking activities (except attracting of deposits and opening of accounts for individuals and legal entities, excluding opening and maintaining of accounts of conditional deposits, reserve accounts in compliance with agreements on loans that are guaranteed by the government, bank accounts for registering bank's loans, other loans and funds of the republican and local budgets, in order to make payments and money transfers, which are provided by agreements, which have been made in compliance with investment projects and export operations, which are served by the bank). [2004-11-11]