/IRBIS, Galina Tsalyuk, November 17, 04/ - Ust-Kamenogorsk titanium magnesium combine (UKTMC JSC, Ust-Kamenogorsk), whose shares are circulating in the official listing of Kazakhstan stock exchanges (KASE) "A" category, provided KASE with the financial statement for 9 months of 2004.

The following indicators are results of company's financial and economic activity for 9 months of 2004, based upon company's information (in th. KZT, if otherwise specified):

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                                     As of       As of
Indicator                      Oct. 01, 03 Oct. 01, 04 Change,%
------------------------------ ----------- ----------- --------
Authorized capital (paid)           21,582     157,549   +630.0
Shareholders' equity             7,456,606   8,279,709    +11.0
Total assets                     8,371,930   9,084,673     +8.5
Net working capital              2,759,126   3,421,171    +24.0
Accounts receivables               989,084   1,158,839    +17.2
Total liabilities,                 915,324     804,964    -12.1
Attracted credits                  862,482     630,720    -26.9
Accounts payable                         -     151,111        -
Sales volume                     6,728,038   8,757,737    +30.2
Cost of goods sold               5,842,839   7,331,857    +25.5
Net income for the period           45,306     490,429   +982.5
Book value of one share, tenge    6,910.02    4,063.55    -41.2
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Relative to 9 months of 2003 there is the growth in:

• Shareholders' equity of the company by KZT823.1m in connection with increase of paid chartered capital by 136.0 m. and total sum of undistributed income - by 805.8 m. what was partially covered with the decrease of additional unpaid capital by 118.7m;
• assets - KZT712.7m. what was caused by money increase and their equivalent by 884.3 m., depreciated cost of fixed assets - by 181.5 m., accounts receivable by 169.7m., and other assets - by 2.7 m. with decrease of inventories - by 525.5m;
• sales volume - by KZT2.0 bn.;
• cost of goods sold - by 1.5 bn.

Liabilities of the company decreased by KZT110.4 m. in comparison with 9 months of 2003 in the result of reduce of accounts payable by KZT231.8 m. and amount of deferred taxes - by 29.7 m., what partially was compensated with attracted loans for the amount of 151.1 m.

Net profit earned by UKTMC JSC for 9 months of 2004 exceeded its net profit for the similar period of 2003 by KZT445.1 m.

The main activities of the company - production and realization of non- ferrous metals (titanium sponges of high quality, commercial magnesium).

[2004-11-17]