OREANDA-NEWS. On May 14, 2008 Batys transit JSC (Almaty), the listed company of Kazakhstan Stock Exchange (KASE), provided to KASE the press release with the following content, reported the press-centre of KASE:

At present the electrical networks of Kazakhstan western regions do not have the direct connection with the main of the Kazakhstan power supply and, accordingly, do not have the access to northern power sources. The western regions have to import from Russia the significant electricity volume that impedes the region development. Due to this, beginning 2006, based on the government-private partnership is being constructed the inter-regional electricity lines of 500 kilovolt transit "Northern Kazakhstan - Aktobe Region".

The project is being implemented based on the Concession agreement, concluded between the Ministry of Energy and Mineral Resources of the Republic of Kazakhstan on behalf of the Government of the Republic of Kazakhstan and Batys transit JSC of December 28, 2005.

At present 25% of work volume is completed on 500 kilovolt transit; 40 % on Ulke and Zhitikara, and purchased about 80 % of materials and equipment.

As the project is financed through the issue of infrastructural bonds, the protection bonds holders' rights and provision of to them of the guarantee is the main agreement term.

The results of joint activities with investors representatives the success on ensuring of bonds holders interests protection was achieved. In particular, on April 21, 2008, the Ministry and Finance of the Republic of Kazakhstan on behalf of the Government of the Republic of Kazakhstan and ATFBank JSC signed the agreement on making changes and additions into the previously concluded Contract of Guarantee of January 9, 2006 # 2AI002, which was approved by resolution # 264 of the Government of the Republic of Kazakhstan of March 18, 2008.

After introduction of changes and additions into the Contract of guarantee of January 9, 2006 # 2AI002:

- the Government of the Republic of Kazakhstan provides the guarantee for interest, accrued to placed bonds for the period of infrastructural bonds circulation, issued during the Concession object construction;

- the bonds holders interest are ensured during the entire period of infrastructural bonds circulation;

- for purposes of reasonable period of making demands to the guarantor, bearing the subsidiary obligations with the infrastructural bonds issuer, the period of making demands to the guarantor was increased by 60 calendar days;

- the bonds holders' representative is entitled to make demands to the guarantor on the maturity date or the interest payment date.