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February 2004
IPNet joined the Global VSAT Forum (GVF), an association of key companies involved in the business of delivering advanced digital fixed satellite systems and services to consumers, and commercial and government enterprises worldwide.

April 2004
KazInvestBank (KIB) obtained a new updated banking license for primary banking services and opened its first operating office in Almaty.

KKM Operating Company (KKM OC) was established by merger of LLP Kokzhide Munai, Kumsai Munai and Mortuk Munai. KKM OC JSC is the license holder of the subsoil use and the sole operator for the exploration and development of Kokzhide, Kumsai and Motuk fields located in the Aktobe Oblast, West Kazakhstan. KKM OC announced the elected Board of Directors, consisting of N. Kapparov, B. Kaniyev, S. Utegen and M. Sapargaliyev.

May 2004
KKM Operating Company (KKM OC) announced changes in the Board of Directors due to the cessation of authorities of one of the members of the board, S. Utegen. KKM OC Board of Directors now consists of three members, N. Kapparov, B. Kaniyev and M. Sapargaliyev.

June 2004
KazInvestBank (KIB) jointly with Credit Suisse First Boston International arranged $105 million pre-export facilities for Food Contract Corporation JSC, making it the largest deal in the agriculture financing sphere in Kazakhstan.
KKM Operating Company (KKM OC) issued ordinary shares in the amount of 1,5 mln shares with a par value of KZT 1000 per share. Each share carries one vote.

August 2004
KKM Operating Company (KKM OC) reported that share flotation was fully completed and provided the company with a share capital in the amount of KZT 1,5 bln.

September 2004
KazInvestBank’s branch opened in Aktobe and was registered by the related authorities.

Lancaster Group formed a private equity division, Lancaster Invest JSC. Lancaster Invest project portfolio will include real estate, retail market, information technology, telecommunication services and financial services in Kazakhstan and abroad.

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