Auditor's report on financial statements of Alliance bank JSC (Kazakhstan) for 2004

/IRBIS, Galina Tsalyuk, April 6, 05/ - Alliance Bank JSC (Astana), whose securities are circulating in Kazakhstan stock exchange's (KASE) "А" listing category, has presented KASE auditor's report prepared by Deloitte (Almaty) on the company's financial statements for 2004 reported in compliance with International Accounting Standards (IFRS). Following describes company's results and financial position for the period that ended December 31, 2004 (in KZT th. unless otherwise stated) ----------------------------------------------------------------------- as of as of Index Jan 1, 03 Jan 1, 04 ---------------------------------------------- ---------- ----------- Authorized capital (paid) 3,575,000 14,989,160 Shareholders' equity (acc-ing. to balance 3,729,715 15,988,082 sheet) Total assets 50,302,539 119,859,763 Liquid assets 18,374,284 64,997,584 Amounts due from banks (net) 2,241,651 891,974 Amounts due from clients (net) 30,669,937 53,308,589 Liabilities, total 46,572,824 103,871,681 Amounts due to banks 4,931,492 13,463,069 Amounts due to customers 36,796,892 67,453,777 Floated bonds 2,983,384 5,871,448 Securities sold under repo transactions 1,131,451 16,591,988 Net interest income (loss) before provisioning 1,681,430 2,767,351 Net non-interest income (loss) 1,013,169 1,511,474 General and administrative expenses 1,363,219 2,082,336 Deductions to reserves 1,081,836 1,335,886 Net income for the period 207,550 860,603 Basic and diluted earnings per share, KZT 635.28 1,715.98 ---------------------------------------------- ---------- ----------- Calculated by issuer's data: ---------------------------------------------- ---------- ----------- Return on equity (ROE), % 5.56 5.38 Return on assets (ROA), % 0.41 0.72 Book value of one share, KZT 10,432.77 10,594.70 Earnings per share (EPS), KZT - 6.99 ----------------------------------------------------------------------- In 2003 no market deals on commons shares in bank were made. Audit was preformed by Deloitte in compliance with International and International Standards on Auditing. In the auditor's opinion the financial statements exactly in all essential aspects reflect financial position of Alliance Bank JSC as of December 31 of 2004, results of its of financial and economic activity and cash flow for the year, which ended by the same mentioned date, in compliance with IFRS. [2005-04-06]