Auditor's report on financial statement of VITA JSC (Kazakhstan) for year 2004

/IRBIS, November 15, 05/ - VITA JSC (the company), whose fourth issue bonds are in Kazakhstan stock exchange's (KASE) official "А" listing category, has presented to KASE auditor's report compiled by BDO Kazakhstanaudit LLP on the company's financial statement for year 2004, which was made in compliance with Kazakhstan accounting standards (IAS). According to audited data, result of the company's financial and economic activity in 2003-2004 is as follows (th. KZT, unless otherwise specified): -------------------------------------------------------- as of as of Indicator Dec 31, 03 Dec 31, 04 -------------------------------- ---------- ---------- Authorized capital (paid-up) 750,000 750,000 Shareholders' equity 3,332,584 2,349,533 Total assets 8,006,592 10,699,905 Net working capital 1,068,352 -900,869 Accounts receivable 1,960,189 1,753,840 Liabilities, total 4,674,008 8,331,522 Borrowed loans (excluding bonds) 3,246,215 4,443,219 Accounts payable 665,793 2,816,764 Issued bonds 750,000 - Sales volume 2,737,081 3,834,975 Cost of goods sold 2,086,133 2,858,817 Net income of the year 58,641 118,711 -------------------------------- ---------- ---------- Calculated by audited data: -------------------------------- ---------- ---------- Return on sales (ROS), % 23.78 25.45 Return on equity (ROE), % 1.76 5.05 Return on assets (ROA), % 0.73 1.11 -------------------------------------------------------- Audit of the company's financial statement was made by BDO Kazakhstanaudit LLP in compliance with international auditing standards. In the opinion of BDO Kazakhstanaudit LLP the financial statement in all essential aspects for sure reflects the company's financial condition as of December 31 of 2004, results of its activity and cash flow for the year, which ended by the mentioned date, in compliance with KAS. Company's primary activities - production, purchasing, processing and sale of agricultural production; production of foodstuff, consumer goods; wholesale and retail trade. [2005-11-15]