ARKA News Agency
June 16 2004

Increase of ISC-Star authorized capital up to $1 million to be
settled on June 25 at the meeting of shareholders in Yerevan

Robert Kocharian: development of small and medium business in Armenia
is a priority

Broadcasting of Culture TV Channel in Armenia to be another step in
expanding of Russian-Armenian cooperation – RF MFA

Till the end of 2004 Conversebank CJSC (Armenia) to issue securities
totaling AMD 300-500 mln

Conversebank’s (Armenia) share in Armenia’s economy is significant

RA MFA denies some publications about tightened inspection of visa on
Armenian-Turkish border

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INCREASE OF ISC-STAR AUTHORIZED CAPITAL UP TO $1 MILLION TO BE
SETTLED ON JUNE 25 AT THE MEETING OF SHAREHOLDERS IN YEREVAN

YEREVAN, June 16. /ARKA/. Increase of ISC-Star authorized capital up
to $1 million will be settled on June 25 at the meeting of
shareholders in Yerevan, the company told ARKA. The agenda of the
sitting also includes issues considering investments in
telecommunication projects, possible sale of shares to third figures,
organizational issues.
“Independently of the developings, we will continue our work on
realization of our projects. The goal is the same – construction of
accessible and reliable mobile network in Armenia and provision of
Internet services”, ISC-Star Director General Eduard Hakobian told
ARKA.
Another subject for the discussion will be second turning to RA
Ministry of Transport and Communication with an application for
provision of radio-frequencies and obtaining license for provision of
services in the field of mobile communication. Besides, shareholders
will consider participation of ISC-Star in tender on provision of
services in the sphere of mobile communication in Georgia that will
take place in the end of 2004.
Armenian-Russian-American JV CJSC ISC-Star was registered in Armenia
on Sep.24, 2001. The founders of the JV are legal and physical
entities of several foreign states, including Russia (KOMIN Ltd and
OJSC LanRusinvest) and RA residents. L.D. –0–

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ROBERT KOCHARIAN: DEVELOPMENT OF SMALL AND MEDIUM BUSINESS IN ARMENIA
IS A PRIORITY

YEREVAN, June 16. /ARKA/. Development of small and medium business in
Armenia is a priority, RA President Robert Kocharian stated at the
working meeting with the heads of interested ministries, departments
and public organizations dealing with small and medium business. The
meeting was called to solve issues raised on June 8 during the
meeting of the President with representatives of small and medium
business. “All issues must be regulated and if there is some that can
be solved, then it should be explained”, Kocharian said. Legislative
activity and practical policy in the sphere of economy should be
organized so that they were directed on encouragement of small and
medium business.
In result of the meeting the President gave orders with concrete
terms of prosecution. L.D. –0–

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BROADCASTING OF CULTURE TV CHANNEL IN ARMENIA TO BE ANOTHER STEP IN
EXPANDING OF RUSSIAN-ARMENIAN COOPERATION – RF MFA

YEREVAN, June 16. /ARKA/. Broadcasting of Culture TV Channel in
Armenia will be another step in expanding of Russian-Armenian
cooperation, RF MFA official site states. According to Russian MFA,
National Committee on Tele and Radio Broadcasting of Armenia made a
decision on provision of 23rd decimeter frequency for retransmission
of Culture TV Channel in Armenia. “Hope that transmission of the
Culture programs in Armenia will be another step in expanding of
Russian-Armenia cooperation in humanitarian sphere”, the document
states. L.D. –0–

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TILL THE END OF 2004 CONVERSEBANK CJSC (ARMENIA) TO ISSUE SECURITIES
TOTALING AMD 300-500 MLN

YEREVAN, June 16. /ARKA/. Till the end of 2004 Conversebank CJSC
(Armenia) will issue securities totaling AMD 300-500 mln, according
to Smbat Nasibyan, the Director General of the bank. As he said, th
eissue of the securities was planned even earlier with the technical
support of IBM Business Consulting Services, however it was stopped
because of closing IBM Consulting. So, according to Nasibyan, the
bank is going to issue securities without anybody’s support during
2004. HE noted that issue of securities would allow the bank “to gain
experience and approve the chances to attract financial means from
the economy in future”.
Conversebank CJSC was registered on December 20, 1993. The bank was
later renamed to Conversebank CJSC on April 26, 1997. On October 31,
1996 the bank received a general license N87. The assets of
Conversebank made about AMD 25219, 9 mln as of May 31, 2004, and the
total capital amounted to AMD 3921,6 mln. ($1- AMD 546,12). A.H.–0–

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CONVERSEBANK’S (ARMENIA) SHARE IN ARMENIA’S ECONOMY IS SIGNIFICANT

YEREVAN, June 16. /ARKA/. Conversebank’s (Armenia) share in Armenia’s
economy is significant, as stated by Smbat Nasibyan, the Director
General of the bank at today’s press conference devoted to the 10th
anniversary of the bank. He noted that Conversebank according to its
financial balance ranks the seconds by the assets for the 1st Q,
2004, and ranks the first by the profit gained. “This actually
testifies to the fact that the bank achieved the goals it had from
the standpoint of its strategic development”, he said. According to
Nasibyan, for 10 years the bank gained the trust of the population,
made great investments from the standpoint of the technological
development and provision with bank e-services. According to him,
Conversebank is ahead of many banks functioning in CIS by providing
with services, the management quality and risks allocation. “For
Armenia with quite limited volume of consumption, including the
banking area, we managed to impement the system of automation and
provide with quite wide spectrum of services, in particular, the
clients of the bank can by making just one call to an automated
system find out the whole information they want beginning from
payments for utility services to monetary transfers”, he said.
Nasibyan also mentioned that the bank provides with wide spectrum of
services also via ATM starting from utility payments to purchasing an
easy card or Internet-services cards.
In respect with the 10th anniversary of Conversebank, the bank
planned in September 2004 to hold some arrangements, including
charity ones and even holding a concert with laser show elements. The
action “the Program of the best economic development of the region”
to be held, in the frames of which not only a competition for the
best business-program will be held, but also issues of funding will
be discussed.
Conversebank was registered on December 20, 1993. The bank was later
renamed to CJSC Conversebank on April 26, 1997. On October 31, 1996
the bank received a general license N87. The assets of Conversebank
made about AMD 25219, 9 mln as of May 31, 2004, and the total capital
amounted to AMD 3921,6 mln. ($1- AMD 546,12). A.H. –0–

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RA MFA DENIES SOME PUBLICATIONS ABOUT TIGHTENED INSPECTION OF VISA ON
ARMENIAN-TURKISH BORDER

YEREVAN, June 16. /ARKA/. RA MFA denied some publications about
tightened inspection of visa on Armenian-Turkish border. As ARKA was
informed in RA MFA Press Service Department referring to Turkish
Embassy in Russia, the order of visiting Turkey by Armenian citizens
has undergone no changes. RA MFA Press Service Department notes that
in international practice if visa regime is changed by one country,
then the country informs about it beforehand. “In this case, RA MFA
hasn’t received any notification from Turkey about it”, according to
RA MFA Press Service Department. A.H. –0–

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From: Emil Lazarian | Ararat NewsPress