OREANDA-NEWS. On October 21, 2008 ATFBank, the representative of holders of infrastructure bonds KZ2CKY23B672 (KASE category "A" official list, DTJLb1;  KZT1,000, KZT30.0 bn.; August 2, 05 - August 2, 28, the annual coupon indexed on the inflation rate, 19.95 % APR for the current coupon period, 30/360) of Doszhan Temir Zholy (DTZ), addressed holders of mentioned bonds through Financiers Association of Kazakhstan with the following letter, reported the press-centre of KASE:

Considering the situation on non-payment by Doszhan Temir Zholy (DTZ) (hereinafter - the Issuer) of the coupon interest for 2008 we inform on the following.

By letter # 07-2-16/7564 of September 3, 08, ATFBank as the representative of the Issuer's bond holders (hereinafter - the Representative) based on Contract of Guarantee # 1DP001 of September 6, 05, concluded between the Representative and the Ministry of Finance on behalf of the Government of the Republic of Kazakhstan (hereinafter - the Guarantor), made demands to the Guarantor to pay bond holders the amount unpaid by the Issuer by the bonded debt terms.

Due to the expiry of 30 calendar days from the moment of demands made by the Representative, the Guarantor was sent the repeated demand to fulfill the Issuer's obligations. In addition, requests were sent on the current situation to the ministry of Economy and Budget Planning, the Ministry of Transport and communications, Kazakhstan temir zholy, Kazakhstan holding on government assets management Samruk, and effective Issuer's shareholders.

In their turn the Ministry of Finance and the Ministry of Economy and Budget Planning of the Republic of Kazakhstan are working on this issue solution, however at present there is not any single agreed standpoint on the situation solution.

Considering that the reasonable time for regulation of this critical situation has expired and the representative was submitted powers of attorney of twenty bond holders, the Representative prepared the lawsuit on debt recovery by the Issuer and the Guarantor on coupon interest on infrastructure bonds of the Issuer.

Taking into account the above mentioned we ask confirm in writing:

- Either the intention of bond holders the reference to the court for solution of   the issue related to coupon interest payment by the Issuer and the Guarantor, with provision of the copy confirming the state duty payment;

- Or the intention of bond holders to wait for solution of the issue related to coupon interest payment by the Issuer and the Guarantor with indicated time pending before commencement of action to the court.