KASE determined the leading exchange repo market operators for february and first 2 months of 2008 (using the new method)
/KASE, 28.03.08/ - Kazakhstan Stock Exchange (KASE) determined the leading
exchange repo market operators for February 2008, using for this purpose the
new ranking method.

Below are 10 most active repo market operators (headquarters of all companies
are located in Almaty). Each trades' participant position was expressed in a
currency of calculation - tenge. In February, the "top-10" accounts for 46.2 % of
this exchange market sector turnover.

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 Position                                                                          
      in:                                                                           
---------                                          Indicator Ka calculation base:
Feb. Jan. Short name of                          of activity --------------------
2008 2008 a company                                     (Ka)     V    N    D    A
---- ---- -------------------------------------- ----------- ----- ---- ---- ----
   1    3 TuranAlem Securities JSC                      2.53  0.38 0.84 0.80 0.50
   2    4 BCC Invest JSC                                2.50  0.53 0.72 0.80 0.44
   3    2 RESMI Finance and Investment House JSC        2.46  0.50 0.89 0.80 0.26
   4    1 Halyk Savings Bank of Kazakhstan JSC          2.41  1.00 0.59 0.80 0.02
   5    6 Temirbank JSC                                 2.17  0.45 0.90 0.80 0.01
   6    5 Almaty Investment Management JSC              2.14  0.11 0.96 0.80 0.27
   7   13 RBNT SECURITIES JSC                           2.07  0.08 1.00 0.80 0.19
   8   10 Bank TuranAlem JSC                            1.96  0.72 0.45 0.76 0.03
   9    7 Eurasian Bank JSC                             1.89  0.55 0.52 0.80 0.01
  10    9 BANK CASPIAN JSC                              1.80  0.44 0.55 0.80 0.01
---------------------------------------------------------------------------------

The "top-10" newcomer relative to January 2008 became RBNT SECURITIES
JSC, having driven Asia Broker Services JSC out of top-10 (the eighth position in
January).

In total, in conclusion of repo deals, excluding the National Bank, in February
2008 participated 70 companies.

Below is the corresponding table of the most active repo market operators for
first 2 months of 2008. In conclusion of deals during this period, excluding the
National Bank of the Republic of Kazakhstan, participated 72 companies. The
"top-10" here accounted for 48.7 % of the repo market turnover.

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                                                   Indicator Ka calculation base:
          Short name of                          of activity --------------------
Position  a company                                     (Ka)     V    N    D    A
--------- -------------------------------------- ----------- ----- ---- ---- ----
        1 Halyk Savings Bank of Kazakhstan JSC          2.63  1.00 0.81 0.80 0.02
        2 RESMI Finance and Investment House JSC        2.39  0.35 1.00 0.80 0.24
        3 TuranAlem Securities JSC                      2.34  0.24 0.85 0.80 0.45
        4 BCC Invest JSC                                2.20  0.27 0.63 0.80 0.50
        5 Almaty Investment Management JSC              2.08  0.08 0.89 0.80 0.31
        6 Temirbank JSC                                 2.03  0.27 0.95 0.80 0.01
        7 Eurasian Bank JSC                             1.78  0.39 0.58 0.80 0.01
        8 RBNT SECURITIES JSC                           1.70  0.03 0.71 0.80 0.16
        9 BANK CASPIAN JSC                              1.67  0.25 0.61 0.80 0.01
       10 Bank TuranAlem JSC                            1.63  0.41 0.41 0.78 0.03
---------------------------------------------------------------------------------

In tables are used short names of the following companies:
TuranAlem Securities - Subsidiary of Bank TuranAlem JSC TuranAlem Securities JCS;
BCC Invest JSC - BCC Invest JSC (Subsidiary of Bank CenterCredit JSC); Temirbank
JSC - Subsidiary of Bank TuranAlem JSC - Temirbank JSC.

In calculations was used the aggregate gross-turnover of trades (the amount of
purchased and sold instruments on repo opening and closing transactions). Given
this, were considered all repo deals regardless of the sector (the automatic repo
or the nego deals method) and the repo subject (government or corporate
securities)

KASE notices that the exchange repo market operators' activity ranking, given in
tables, is developed using the new method. This method text will be published
at the exchange site in the nearest time. This method essence includes the
following.

The company's place in the ranking is determined by the value of the so called
activity indicator (Ka), calculated for each exchange member. The first position
in the rating corresponds with the largest Ka value.

This indicator for the repo market operators is calculated by formula
Ka = V + N + 0,8*D + 0,5*A, where:

V - the indicator of repo deals volume, concluded by the being rated exchange
member for the analyzed period on KASE, V = Vi / Vmax, where Vi - deals
volume, concluded by the being rated company for the period, Vmax - the largest
volume of deals, concluded by any KASE member for the same period (not
considering the National Bank);

N - the indicator of repo deals number, concluded by the being rated exchange
member for the analyzed period on KASE; N = Ni / Nmax, where Ni - the number
of deals, concluded by the being rated company for the period сделок, Nmax -
the largest volume of deals, concluded by any KASE member for the same period
(not considering the National Bank);

D - the indicator of number of effective for the being rated exchange member
days during the analyzed period (the effective day - the day during which the
being rated exchange member on the KASE secondary market concluded at least
one deal in shares by the open trades method); D = Di / Dmax, where Di - the
number of effective days of the being rated exchange member, D(max) - the
largest number of effective days, fixed for the analyzed period on any KASE
member;

A - the indicator of sub-account number, used by the being rated exchange
member during the analyzed period; A = Ai / Amax, where Ai - the sub-accounts
number, used by the being rated exchange member when concluding deals
during the analyzed period, A(max) - the largest number of used sub-accounts,
fixed for the analyzed period on any KASE member.

Indicators Vi, Ni, Di, Ai, Vmax, Nmax, Dmax, Amax are unit values, i.e. are
calculated as the ratio of deals volume (number of deals, number of effective
days or number of sub-accounts) to the number of days in the analyzed period,
during which this trades' participant was this category exchange member. Thus,
dependence of indicators values on the duration of the being rated KASE
member activities is leveled.

For inclusion into the ranking the company must have KASE membership by the
corresponding category during not less than 70 % (by calendar days) of the
analyzed period, if considered the period up to three months inclusive, not less
than 60 %, if the period duration makes up from three to six months, and not less
than 50 %, in case of use of the longer analyzed period.

[2008-03-28]