PRESS RELEASE

29th March 2004

American Chamber of Commerce (‘AmCham in Armenia’),
Room 313, Ararat Wing, Armenia Marriott Hotel,
1, Amiryan Street, Yerevan,
Republic of Armenia
Contact: Elen Ghazaryan, Executive Director
Telephone no.: 599187, fax no.: 599191
E-mail: amcham@arminco.com
Website:

AmCham hosts Business Ethics Roundtable

Yerevan. A Roundtable, organized by the American Chamber of Commerce in
Armenia (`AmCham’), took place on March 23rd 2004 in the Queen Erato
Room of the Armenia Marriott Hotel.

The idea of organizing this roundtable was born at the Business Ethics
workshop held on July 30th, 2003, which was attended by many
participants from the private and public sectors and international
organizations. There was a very positive response from the participants
and as a result a working group was formed from those who were
interested in further actions directed towards this mission.

Thus, in order to continue the discussion and to determine the
possibilities of promoting Business Ethics principles in Armenia, AmCham
organised this Roundtable. It was run by Lusine Janoyan, Second
Vice-President of AmCham, who is a Business Ethics trainee and
participant in the program on Business Ethics and Good Governance,
organized by the US State Department of Commerce.

Lusine Janoyan welcomed the participants to the Round Table, inviting
them to work together, set up a committee and decide on future actions.
She asked participants to give their ideas on how to put Business Ethics
into practice. Following very active discussion, participants set up a
committee of four people, with Lusine Janoyan as chairperson, which
would develop and define future activities for the group.

Participants agreed on the following short and long term plans:

a. To develop a universal Code of Business Ethics.
b. To create a library dedicated to the subject.
c. To cooperate with professional associations and NGOs.
d. To organise Business Ethics lectures at universities and other
educational institutions.
e. To create an online website linked with AmCham.

Lusine closed the Round Table with a few words of thanks. The next
meeting of the working committee is scheduled for next week.

AmCham in Armenia is a non-profit organization dedicated to improving
the business environment. It has sponsored many conferences and
workshops, all of which have been successful and well attended.

For further information contact `amcham@arminco.com’ or visit our
web-site where more information about our activities will
be found, including information on Business Ethics.