From the bank <<Credit Service>> to the chair of accused

FROM THE BANK “CREDIT -SERVICE” TO THE CHAIR OF ACCUSED

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| 19:30:07 | 16-05-2005 | Social |

“The Bank has been robbed of more money than the sum named today”, said
Artashes Davtyan, ex-executive director of the bank “Credit-Service”
who was the accused to day in the Notq-Marash communities Court of
the first instance.

Today the Court heard the case of the workers of the Bank – Artashes
Davtyan, Boris Araqelyan, Vahagn Martirosyan, Svetlana Qaramyan and
others who are accused of stealing money from the bank. Particularly,
Artashes Davtyan is accused of stealing 121 million drams

The trial started on February 16, 2004, and Artashes Davtyan and
Vahan Martirosyan have been imprisoned since April 1, 2003.

During the trial Davtyan accused Stanislav Hovakimyan, founder of the
bank. The lawyer of the latter, Hovik Galyan interrupted him all the
time, and finally got angry and left the court room.

It was decided that at he next court session Artashes Davtyan will
give evidence. The session will take place on May 24, at 2:00 p.m.