/IRBIS, Galina Tsalyuk, March 19, 04/ - Kazakhstan Mortgage Company CJSC (Almaty), whose bonds are circulating in the official "А" listing category of Kazakhstan stock exchange Inc. (KASE), has presented KASE auditor's report made by KPMG Janat (Almaty) (2003 fiscal year was audited by Ernst & Young), which was made on the company's financial statement for 2004 prepared in compliance with International accounting standards (IAS).

Result of the company's financial and economic activity as of December 31 of 2003 is as follows, in accordance with the auditor's data (th. KZT, unless otherwise specified):

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Indicator                                Dec 31, 03  Dec 31, 04
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AUTHORIZED CAPITAL (PAID)                 2,500,000   2,500,000
Shareholders' equity                      2,759,480   3,113,285
Total assets                             10,068,411  29,392,970
Sum of liquid assets                      1,858,810   3,023,094
Loans to clients                          8,178,255  26,298,757
Loan to financial institution             7,308,931  26,279,685
Liabilities, total                        7,269,364  26,216,954
Issued bonds                                251,876     598,406
Total revenues                                8,503       8,815
Total expenses                              117,602     253,416
Net income                                  142,777     353,805
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Calculated according to auditor's data:
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Return on equity (ROE), %                      5.17       11.36
Return on assets (ROA), %                      1.42        1.20
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Audit of financial statement of Kazakhstan Mortgage Company CJSC for 2004, was conducted by KPMG Janat in compliance with International auditing standards.

In the auditor's opinion the financial statement exactly in all essential aspects reflects the company's financial condition as of December 31 of 2003, and also results of its financial and economic activity and cash flow for the year, which ended by the mentioned date, in compliance with IAS.

Company's 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]