PRESS RELEASE

November 18, 2004

American University of Armenia Corporation
300 Lakeside Drive, 4th Floor
Oakland, CA 94612
Telephone: (510) 987-9452
Fax: (510) 208-3576

Contact: Gohar Momjian
E-mail: gohar@auac.net

AUA CONTINUES DIALOGUE ON INFORMATION TECHNOLOGY

Yerevan -André Andonian, Senior Partner of McKinsey & Co, Germany, visited
the American University of Armenia (AUA) on Nov. 7 and spoke on the
Comparative Productivity and Development Potential of the Armenian
Information Technology Sector. `Armenia shows good productivity
performance given quite a young and fragmented sector,’ said Andonian, as he
highlighted the strategy for software and information technology services.
Andonian emphasized the need for Armenia to build on its advantages, adapt
to foreign markets, be open for global alliances, pursue export strategies
and aspire for leadership to achieve growth. His advice was that Armenia’s
global export focus should be on customized application development and
embedded software. ‘In the high growth scenario, Armenia can become
comparable with current dominant countries.’

Andonian is a Senior Partner in McKinsey’s Munich office with more than 12
years experience in the field of high technologies. `Armenia’s specialists
not only possess in-depth knowledge of information technology but are also
well educated to solve more complex problems linked to high-tech
engineering,’ said Andonian.

The American University of Armenia continues to encourage active dialogue on
developing Armenia’s high tech industry by hosting lectures and seminars
from experts in the field, such as Andre Andonian. This is in line with
its mission to prepare leaders for the computing industry. AUA’s Computer
and Information Sciences program established just three years ago, has seen
great success in placing graduates in Armenia’s fastest growing high tech
companies.

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The American University of Armenia is registered as a non-profit educational
organization in both Armenia and the United States and is affiliated with
the Regents of the University of California. Receiving major support from
the AGBU, AUA offers instruction leading to the Masters Degree in eight
graduate programs. For more information about AUA, visit

From: Emil Lazarian | Ararat NewsPress