/KASE, May 4, 12/ - JSC "Bank CenterCredit" (Almaty), a representative of holders of mortgage bonds KZP03Y05C491 (KZ2C00001063, KZIKb18; KZT1;
KZT5.0 bn; December 1, 2007 - December 1, 2012; semi-annual coupon 11.00 % APR; 30/360) of JSC "Mortgage Organization "Kazakhstan Mortgage Company" (Almaty), officially listed at Kazakhstan Stock Exchange (KASE), has by an official letter informed KASE of results of an analysis of the financial position of JSC "Mortgage Organization "Kazakhstan Mortgage Company" as of April 1, 2012.

Based on the analysis conducted, JSC "Bank CenterCredit" announced the following:

quote

A negative moment in the Company's operations is its losses in the first quarter 2012. The losses are related to a considerable increase in interest expenses with a simultaneous decrease in interest revenues which at the end of the day brought to negative net interest income. If a similar progress remains unchanged, the company's loss will be growing.

At eh same time, the Company timely and in full performs its liabilities towards creditors and bondholders; no default has been detected. The Company meets all prudential requirements.

Responsibility for the reliability of information provided necessary for conducting an analysis of the financial position and the state of property swerving as collateral for fulfillment of the Issuer's liabilities towards bondholders, is carried by the management of JSC "Mortgage Organization "Kazakhstan Mortgage Company".

unquote

[2012-05-04]