LLOYDS TSB TO HELP ARMENIAN BANK MEET WESTERN STANDARDS

Armenpress
Sept 7, 2005

YEREVAN, SEPTEMBER 7, ARMENPRESS: One of the leading commercial banks
of Armenia, Armeconombank and a British Lloyds TSB consulting firm
announced today in Yerevan the start of an institutional reconstruction
and development project for Armenian bank.

Lloyds TSB was selected from 6 consulting firms last March which were
competing for implementation of a technical assistance program for the
bank after EBRD bought 25 percent shares +1 share of Armeconombank. The
program duration is 18 months. After its completion Armeconombank
will boast of having the state-the-art banking technology.

From: Emil Lazarian | Ararat NewsPress