Registration of the fourth issue of Astana Finance unsecured bonds

On April 13, 2004, the Agency of the Republic of Kazakhstan for regulation and supervision of the financial market and financial institutions effected state registration of the fourth issue of Astana Finance unsecured bonds.

Bond Issue Parameters

Amount of the issue	KZT 2,000,000,000 (two billion)
Number of bonds	20,000,000
Type of bonds	registered coupon bonds, unsecured, inflation-based coupon indexing
Coupon period	semiannual, based on a 360-day year and a 30-day month
Face value, N	KZT 100
Start of circulation	since the date of listing on the Kazakhstan Stock Exchange (KASE).
Maturity	7 (seven) years since the start of circulation
Coupon rate	9% (nine percent) p.a. in the first year, i+m in subsequent years, where "i" is inflation calculated as increase/decrease of the consumer price index (CPI (%) less 100%), and "m" is the fixed margin of 2.5% p.a. Since the second year of circulation, the coupon rate shall be revised semiannually. Maximum coupon is 14%, minimum coupon is 2.5% (in case of deflation).
Indexing procedure	Coupon payments are indexed according to the change in the inflation level. The inflation level is calculated as the change in the CPI level (CPI (%) less 100%) for the 12 months, 2 (two) months prior to next coupon payment, as published by the Statistics Agency of the Republic of Kazakhstan.
Issuers Rights & Duties	1) to fulfill in good faith its obligations as per the bond offering circular; 2) to notify the KASE by letter and bondholders - by publication in Kazakhstanskaya Pravda, the newspaper, at least 5 (five) business days before the beginning of the new coupon period about the actual coupon rate for the new coupon period.

The price of the bonds will be identified by the issuer based on the asking price and bid price in the market. In compliance with current laws, the bonds shall be taken up by cash.

You can get the offering circular for Astana Finance bonds, and more information, from:

updated 09.12.2008

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