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OOO KAMAZ-FINANCE

KAMAZ-Finance Issues Bills

OOO KAMAZ-Finance, a subsidiary of OJSC KAMAZ, has started to issue its own notes. This project is being carried out in the context of general loan portfolio of KAMAZ Group. Ak Bars Bank and Sprut Bank were the first investors. Both agreements were signed on October 7, 2003. KAMAZ - Finance securities are discount bills with 6 months circulation and 13 per cent profit. Maximal issue volume is limited up to 350 million rubles.

The issue of OOO KAMAZ-Finance bills is the first stage of the program of attracting foreign financing by issuing of securities. The next stage is to allocate OOO KAMAZ-Finance loan securities, guaranteed by the parent company.

As per Mr. Urmanov, Director of Finance Department (Sales and Service Division) of OJSC KAMAZ, the banks participating in bills program of KAMAZ-Finance will have advantages in work with KAMAZ Company.

Note:
OOO KAMAZ-Finance was established in June, 2003. Its authorized capital is 11 million rubles. The company was established to attract external funds for realization of long-term investment projects of KAMAZ Group.

Wednesday, 08 October 2003

Bank ZENIT and Foreign Trade Bank Appointed Organizers of Funded Loan of OOO KAMAZ-Finance

Bank ZENIT and Foreign Trade Bank have been appointed organizers of the first funded loan of OOO KAMAZ-Finance, the subsidiary of OJSC KAMAZ. The issue of bonds was registered by the Federal Committee on Securities Market on October 3, 2003 (under national registration number 4-01-36044-R). In accordance with the issue documentation,the nominal volume of credit is 1,200 million rubles; 3 years circulation period. The bonds have 6 half-year warrants. An interest rate per warrant for the first year of circulation will be specified upon the results of a tender on floatation of a bond issue, afterwards OJSC KAMAZ is to determine interest rates of the following circulations. The issue documentation provides that upon completion of the first and the second circulation years, there can be offered retirement of bonds at owners' request. Bank ZENIT is to act both as an agent on retirement of bonds and as a paying agent.

Floatation of a bond issue is to take place at Moscow Interbank Exchange Market by public subscription. The underwriter (vendor of bonds while their allocation) will be Bank ZENIT.

Visit www.zenit.ru to get more information on issue documents from Bank ZENIT.

Information on Funded Loan by OOO KAMAZ-Finance

  • Issuer - OOO KAMAZ-Finance

  • Investors - residents and non-residents without restrictions

  • Type of debentures - documentary interest-bearing inconvertible bearer bonds of A series with obligatory centralized storing

  • Credit volume - 1,200 million rubles

  • Par value - 1,000 rubles

  • Maturity period - 3 years

  • Payment of coupon interests - every 6 months

  • Interest rate per warrant - interest rates of the first and the second coupons will be specified upon tender results of a floatation of a bond issue, rates of next coupons will be determined by OJSC KAMAZ

  • Security - guarantees furnished by OJSC KAMAZ and KAMAZ FINANCE AND TRADING COMPANY Incorporated

  • Offer - retirement of bonds at nominal value at the end of the 1st and 2d years of circulation

  • Cost of floatation - 100% from nominal value

  • Order of distribution - by public subscription at Moscow Interbank Exchange Market

  • Depositary - National Deposit Center

  • Payment agent - Bank ZENIT

  • Issue organizers - Bank ZENIT, Foreign Trade Bank Inc.

Thursday, 09 October 2003

Official Information on Substantial Fact
Report on Decisions of General Meetings

  1. Full company name of the issuer: OOO KAMAZ-Finance.

  2. Issuer location: the city of Naberezhnye Chelny, the Republic of Tatarstan, RUSSIA.

  3. Issuer's Personal Taxpayer ID: 1650104633.

  4. Issuer's Unique Code number given by registration body: 36044 - R.

  5. Important Fact Code number: 1036044R06102003.

  6. Issuer's Web-site address used for informing on Important Facts: www.kamaz.net.

  7. Name of newspapers used by the issuer to publish information on Substantial Facts: Supplement to Information Bulletin of the Russian Federal Securities Commission, Vesti KAMAZa.

  8. Type of a general meeting (annual, special): special.

  9. The way of holding of the general meeting: decision of the sole Participant.

  10. Date and place of general meeting: October 6, 2003; 29, M. Jalil prospect, Naberezhnye Chelny, Republic of Tatarstan, Russian Federation.

  11. General meeting quorum: there was a quorum secured for making decisions.

  12. Items on the agenda for voting and voting results:
    1. On Director General of OOO KAMAZ-FINANCE:
      The decision was made by the sole Participant of OOO KAMAZ-Finance

  13. Wordings of decisions made at the general meeting are as follows:
    The Participant has made the following decision "On Director General of OOO KAMAZ-Finance on the agenda item:

    1. To terminate a prior expire date from October 6, 2003 on terms of power of Arthur A. Babiy, Director General of OOO KAMAZ-Finance

    2. To appoint Sergey A. Afanasyev Director General of OOO KAMAZ-Finance for a three-year period and to sign an employment contract with him on October 6, 2003.

Director General of OOO KAMAZ-Finance

S. Afanasyev

Thursday, 09 October 2003

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