/KASE, May 16, 12/ - JSC "Accumulative pension fund GRANTUM joint- stock company (Subsidiary of Kazkommertsbank JSC)" (Almaty), a member of Kazakhstan Stock Exchange (KASE) stock market, provided today KASE with following press-release:

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ACCUMULATIVE PENSION FUND GRANTUM SUMMARIZED Y2012 Q1 OPERATING RESULTS*.

As of April 1, 2012 JSC "Accumulative pension fund GRANTUM joint-stock company (Subsidiary of Kazkommertsbank JSC) is one of most reliable pension funds and over the last three years it received an investment yield higher than inflation.

PENSION ACCUMULATIONS

The overall pension accumulations of APF GRANTUM increased by KZT19 bn (7.8 %) and made up KZT262.2 bn. The Fund's market share in terms of pension assets rose by 0.27% reaching 9.44%. APF GRANTUM's amount of pension accumulations per one depositor as of April 1, 2012 made up KZT703.1 thousand - the maximum value across Kazakhstan's pension system.

The intensity of growing pension accumulations of the Fund in the reporting period was secured by:

• pension contributions of KZT9.9 bn;
• positive balance of transfers by depositors to the amount of over KZT8.3 bn;
• accrued investment income to the amount of over KZT3.7 bn.

Since the beginning of the current year, the Fund paid out pensions (including transfers to insurance companies) to depositors (beneficiaries) to the amount of KZT2 bn.

INVESTING

As of April 1, 2012 the nominal income ratio (К2) of APF GRANTUM made up:

• 4.51% for 12 months;
• 23.81% for 36 months;
• 34.58% for 60 months.

In terms of profitability, APF GRANTUM over the past three years showed the maximum investment profitability across the industry which substantially exceeds the cumulative inflation rate (21.77%)*. The Fund's profitability in all three periods exceeds average weighted ratios of nominal income across the pension system.

As of April 1, 2012 the most part of the Fund's pension assets is placed in highly reliable government securities of the Republic of Kazakhstan (57.2%), in corporate bonds (20.2%), issued by major financially solid local and foreign issuers. The portion of shares and depository receipts is maintained at a low level - 2.2%.

In the structure of the Fund's investment portfolio financial instruments are nominated in Kazakhstan tenge - 84.2%, US dollar - 10.7%, Russian ruble - 3.5% and 1.6% - in Chinese yuan.

More details on the investment portfolio's structure are available on the Fund's corporate website.

FUINANCIAL ACTIVITIES

As of April 1, 2012, the Fund's equity made up KZT6.1 bn, undistributed income (profit) for the reporting period made up KZT226.3 m, which is by 8.8% higher than the result of the same period of 2011.

In the course of 1Q 2012, APF GRANTUM fully met requirements set by the Committee on Regulation and Supervision of Financial Market and Financial Organizations of the National Bank of the Republic of Kazakhstan with regard to sufficiency of equity (K1) and profitability of pension assets (K2).

Contacts: Press-service: Olzhas Omarov. tel.: 244-57-44 ext. 242, E-mail: olzhas.umarov@grantum.kz Additional info source: www.grantum.kz

* Based on data from FSC NBK (www.afn.kz)

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[2012-05-16]