/IRBIS, Sergey Yakovlev, November 26, 04/ - Following is the characteristics of bonds of Kazakhstan Mortgage JSC (Almaty) of the seventh issue published in connection with their admittance into official list of securities of Kazakhstan Stock Exchange (KASE) under category "A". Figures are given according to conclusion of KASE Listing company and Prospect of seventh issue of mortgage bonds of Kazakhstan Mortgage JSC.

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Type of securities:                        Mortgage bonds with  floating
                                           coupon rate
Debt type:                                 secured
Issue and servicing currency:              Kazakhstan tenge (KZT)
Nature of indexation:                      Coupon rate depending upon level of
                                           inflation in Kazakhstan
Peculiarities of indexation:               Income of investor is protected
                                           from deflation; value of coupon rat
                                           depends upon size of fixed margin
National identification number:            KZ2CKY07B303
Issue number in state register:            B30
Register maintenance:                      Register Center LLP(Almaty)
Emission registration date                 September 10, 2004
Nominal value                              KZT1
Volume of emission in currency issue       5,000,000,000
Volume of emission in securities           5,000,000,000
Date of circulation (date of emission)     October 10, 2004
Circulation term (calendar)                7 years from the beginning
                                           of circulation
Floatation term:                           During whole circulation period
Maturity date:                             October 1, 2011
Size of premium (interest):                Floating, is considered each year of
                                           circulation on April 1 and October 1
Date of payment of premium (interest):     April 1 and October 1 annually
Time base in all calculations              30/360, European method
Register fixation date for coupon payment: March 31 and September 30 each year
Register fixation date at maturity:        September 30, 11
Underwriter of issue                       RG Securities JSC (Almaty)
Control after loan:                        ALMIR CONSULTING LLP (Almaty)
Representative of bondholder:              Halyk saving bank Kazakhstan JSC
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Date of admittance in trade lists of KASE: November 26, 04
Trade code of KASE:                        KZIKb7
Date of first trades at secondary market:  Will be determined later
Quotation system:                          net prices
Accuracy of quotations:                    4 decimal figures
Market maker at KASE                       RG Securities JSC
Minimal volume of obligatory quotation     1,800,000 bonds
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Credit ratings of issue:                   absent as of November 26, 04
Credit ratings of issuer:                  absent as of November 26, 04
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Coupon rate of bonds is floating (in %) are calculated in the following way: annualized level of inflation (last 12 months) for a month previous to the month, when rate is determined (up to April 1, 2005) or revised minus 100 plus fixed margin.

In case if value of inflation minus 100 will become negative, i.e. deflation, interest rate is calculated on the assumption of zero inflation.

Fixed margin is determined according to the results of the first transaction of first floatation of bonds. In case of first transaction conclusion with first placement of bonds at specialized trades of exchange, in condition of bids satisfaction for buying of bonds on announced rate, as fixed margin is to be taken the lowest rate, by the results of specialized trades.

Premium on bonds of the company is revised on April 1 and October 1 of each calendar year of circulation date according to change fluctuation of the consumer price index compiled by the Statistic Agency of the Republic of Kazakhstan.

In case of change of premium charging and actual payment of premium on its bonds from the moment of last revision premium till coming of new revision is made from premium of last revision.

From circulation date issuer has set upper and bottom ceiling of coupon rate. Upper ceiling is equal to level of annualized inflation (for the last 12 months) for September 2004 minus 100 plus fixed margin plus 4.5. Bottom ceiling is equal to level of annualized inflation (for the last 12 months) for September 2004 minus 100 plus fixed margin plus 4.5.

In future upper and bottom ceiling are revised on October 1 of each calendar year of circulation.

More detailed information about securities, including conclusion of the Listing exchange committee is published on pages of official web site of the exchange at see more

[2004-11-26]