Shareholders of Mining and smelting concern Kazakhaltyn JSC (Kazakhstan) confirm agreement about opening of credit line in Kazkommertsbank JSC (Kazakhstan) for $15.0 m.

/KASE, December 27, 04/ - Mining and smelting concern Kazakhaltyn JSC (Akmola oblast, Stepnogorsk), whose bonds are circulating in the official "A" listing category of Kazakhstan stock exchange Inc. (KASE), has provided KASE with copies of minutes of the conference of the Board of directors, which was held on November 20 of 2004, and general shareholders meeting, which was held on December 22 of 2004. In accordance with the agenda, which comprised the only question, shareholders of Mining and smelting concern Kazakhaltyn JSC decided. Confirm decision of the Board of directors of Mining and smelting concern Kazakhaltyn JSC dated November 20 of 2004 about making of a big deal with Kazkommertsbank JSC, including: - agreement about opening of a credit line in Kazkommertsbank JSC with USD15.0 m. limit for 5 years (hereinafter - the agreement); - additional agreements to all acting pledge agreements, which are made by the company in accordance with applying of pledge agreement's effect to the above-mentioned made agreement; - property pledge agreement for securing the due fulfillment of obligations on the made agreement about opening of the credit line (providing the possibility to change the size, order of interest calculation, schedule of payments, periods of redemption), and also all obligations, which will appear in the future on the mentioned agreement in case of any change of its terms (including, but not limiting: increase or decrease of the size (limit) of the credit line; size of paid interest; any change of periods, terms and order of credit line giving; joining of juridical or physical persons to the mentioned agreement for the receipt of the credit or stoppage of their participating in it; change of accessorial agreements terms). Give to Kazkommertsbank JSC the right of out-of-court sale of the pledged property. Company's primary activities - exploration and prospecting works, extraction and processing of gold-containing ore, production of gold-containing goods, manufacture, storage and sale of gold and other precious metals, export of gold and other precious metals and precious stones, jewelry production, operations with refined precious metals and precious stones in physical condition, transportation, organization of scientific and project-survey works and experimental developments. [2004-12-27]