SEF ABN AMRO Registrars

completed

Summary Of Project Information (SPI)Project NameKazakhstan - Kazak Registry CompanyRegionCentral Asia, Middle East and North AfricaSectorProject No007288Projected Board DateDecember 20, 1996Company NameKazak Registry Company (KRC)Technical Partner and/or Major Shareholders ABN Amro N.V (51%) and Global Kazkommerts Securities (29%) Project Cost Including proposed IFC investment US$100,000, including an IFC equity investment of $20,000Location of project and Description of site Almaty, KazakstanDescription of Company and Purpose of Project The project consists of the establishment of the Kazak Registry Company (KRC), which will be the first professional provider of registry services in Kazakstan. KRC will be established in Almaty with a share capital of US$100 thousand and would provide registry services to leading private companies and investment privatisation funds. The project will help develop the equity market in Kazakstan, which currently faces a major constraint emanating from the difficulties encountered in recording the ownership rights of a shareholder. This affects negatively the inflow of foreign portfolio investment as well as the development of a local retail market. This project has been conceived as a response to the lack of independent, reliable and professional share registry facilities in Kazakstan and is expected to have a significant impact on the development of Kazakstan’s capital markets. IFC will make an equity investment of US$20,000 representing 20% of the equity of KRC. The other shareholders will be ABN Amro (51%) and Global Kazkommerts Securities (29%).Environmental Category and Issues This is a C category project according to IFC’s environmental review procedure.Date SPI sent to PIC      November 18, 1996For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 676-0365