CELLINI INTERNATIONAL PLANS TO EXPAND COOPERATION WITH ARMENIA

ArmenPress
May 10 2004

YEREVAN, MAY 10, ARMENPRESS: Italian Cellini International, a trading
partner of several Armenian jewelry companies, has purchased some 500
kg of jewelry items manufactured in Armenia to have sold them at USA,
Canada, Mexico and Italy over the last three years.

Samvel Najarian, the deputy chief manager of the Los Angeles-based
Paros, a subsidiary of Cellini International, told Armenpress a
new cooperation expansion plan is being developed with Armenian
companies. Cellini International made its first presence at an annual
jewelry exhibition in Armenia this year showing a variety of items,
which it plans to cell throughout the CIS.

Najarian said Armenia remains an attractive country for investing in
jewelry due to its skilled and relatively cheap labor force.