/IRBIS, Galina Tsalyuk, March 19, 05/ - Kazakhstan Mortgage Company JSC (Almaty), whose bonds are circulating in the official "A" listing category of Kazakhstan stock exchange Inc. (KASE) provided KASE with non-audited financial statement for 2004.

Following indicators are result of company's financial and economic activity in 2004, based upon company's data (th. KZT, unless otherwise specified):

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                                      as of       as of  Change,
Indicator                         Jan 1, 04   Jan 1, 05        %
-------------------------------  ----------  ----------  -------
Authorized capital (paid)         2,500,000   2,500,000      0.0
Shareholders' equity              2,759,480   3,113,285    +12.8
Total assets                     10,068,410  29,392,970   +191.9
Liquid assets                     1,858,809   3,023,094    +62.6
Mortgage loans                    8,178,255  26,298,757   +221.6
Liabilities, total                7,308,930  26,279,685   +259.6
Issued bonds                      7,269,364  25,689,086   +253.4
Net interest income                 235,688     598,402   +153.9
Net non-interest income              33,194       3,119    -90.6
General administrative expenses      84,034     175,474   +108.8
Net income for the period           142,777     353,805   +147.8
-------------------------------  ----------  ----------  -------
Calculated by company's data:
-------------------------------  ----------  ----------  -------
Return on assets (ROA), %              1.42        1.20    -15.1
Return on equity (ROE), %              5.17       11.36   +119.6
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Relative to 2003 there is increase of:

• shareholders' equity - by KZT353.8 m. due to growth of total sum of undistributed income by 211.0 m. and reserve capital - by 142.8 m.;
• assets - by KZT19.3 bn., including: mortgage loans volume - by 18.1 bn., securities portfolio - by 1.2 bn. and other assets - by 40.2 m.;
• liabilities - by KZT19.0 bn. because of growth of floated bonds volume by 18.4 bn. and other liabilities - by 551.0 m.;
• net interest incomes - by KZT362.7 m.;
• general administrative expenses - by KZT91.4 m.

Company's net non-interest incomes have fallen by KZT30.1 m. in comparison with year 2003.

Net income earned by the company in 2004 exceeded its net income of year 2003 by KZT211.0 m.

Primary activities - loan operations (giving credits in monetary form on the terms of paying off, urgency and giving back), factoring operations (purchasing of rights of payment requirement from consumer of goods (works, services) with assumption of the risk of non-payment).

[2005-03-19]