Shareholders of Development Bank of Kazakhstan JSC decided to found bank's daughter leasing company

/KASE, August 9, 05/ - Development Bank of Kazakhstan JSC (Astana), whose bonds are circulating in the official "A" listing category of Kazakhstan stock exchange Inc. (KASE), has presented to KASE the copy of minutes of prescheduled general shareholders meeting, which was held on July 13 of 2005. In accordance with the approved agenda the bank's shareholders have taken following decisions. 1. "Confirm decision of the Board of directors of Development Bank of Kazakhstan JSC dated June 8 of 2005 about foundation of a daughter leasing company with 100% market share of Development Bank of Kazakhstan JSC (the Company) on the following terms: 1) Name the Company: in Kazakh: "КДБ-Лизинг" акционерл¦к ?о?амы; in Russian: акционерное общество "БРК-Лизинг"; in English: Joint Stock Company "DBK - Leasing". 2) Determine location of the Company and its executive body: 32, Republic ave., Astana, Kazakhstan. 3) Set: - number of the Company's announced common shares - 130,000 units at KZT50,000 offering price each; - the Company's authorized capital, paid by the founder, in the amount of - KZT48,550,000; - number of the Company's announced common shares, purchased by the founder - 971 units; - face value of shares, paid by the founder, is KZT50,000. 4) Determine the Company's activity - leasing. 5) Determine that decisions of the Board of directors of Development Bank of Kazakhstan JSC are the decision of the Company's General shareholders meeting for the Company." 2. "Board of directors and management of Development Bank of Kazakhstan JSC are to take necessary measures on preparation of the Charter and other documents concerned with foundation, registration and formation of the Company and its authorized capital, and also prepare internal acts regulating the Company's activity and setting main principles and priorities, limits, directions, possible terms, order and periods of conducting leasing activity, quantitative limitations for borrowing funds and terms of equity capital placement." 3. "Recommend shareholders of Development Bank of Kazakhstan JSC - domestic executive bodies in accordance with the message of Kazakhstan's president to Kazakhstan people "To competitive Kazakhstan, competitive economy, competitive nation" dated March 19 of 2004 take measures on capitalization of Development Bank of Kazakhstan JSC in the amount of KZT5 bn. before the end of the current year." Company's primary activities - rendering of banking services (except attracting of deposits and opening of accounts for physical and juridical entities, excluding opening and maintaining of accounts of conditional deposits, reserve accounts in compliance with agreements on loans that are guaranteed by the state, bank accounts for registering the bank's loans, other loans and funds of the republican and local budgets, in order to make payments and money transfers, which are provided by agreements, which have been made in compliance with investment projects and export operations served by the bank). [2005-08-09]