PRESS RELEASE
American University of Armenia Corporation
300 Lakeside Drive, 5th Floor
Oakland, CA 94612
Tel: (510) 987-9452
Fax: (510) 208-3576
Email: Gaiane@auac.net
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October 12, 2005

Building a Bridge Between the Silicon Valley and the American University of
Armenia (AUA)

Oakland, CA – Mr. and Mrs. Papken and Claire Der Torossian opened their home
in Saratoga, California, for AUA to host a unique evening dedicated to
promoting cooperation and communication between Silicon Valley executives
and the AUA School of Business and Management.

Dr. Rubina Ohanian, the Dean of the School of Business and Management, an
accomplished marketing solutions specialist with over fifteen years of
consulting and corporate experience, was among the guests. She gave a brief
overview of the MBA program, emphasizing that the School of Business and
Management strives to provide its students with quality instruction and a
state-of-the-art curriculum to help them achieve their professional goals.

Dr. Ohanian spoke very highly of the MBA students’ aptitude and the
potential that they have to make a difference to Armenia’s future. She
invited the Silicon Valley leaders to support the University, get involved
in the future of its students. Outsourcing of successful Silicon Valley
businesses to Armenia will create job opportunities for our youth.

President Haroutune Armenian shared with the guests that AUA is an
institution of change and transformation, offering its students quality
education, technology and know-how for entrepreneurial endeavors. “As a
student-centered university, the top priority is our students, and our most
important objectives are maintaining academic excellence, becoming a
knowledge enterprise and developing regional role”, said Dr. Armenian.

This was an emotional evening for Seta Karamardian, the widow of Stepan
Karamardian, who was the founding Dean of the School of Business and
Management. “Seeing AUA Business School prosper is the realization of my
husband’s dream and vision”, said Mrs. Karamardian.

Yervant Zorian, Vice President and Chief Scientist at Virage Logic
Corporation, also a member of the American University of Armenia Corporation
(AUAC) Board of Trustees, highlighted the main purpose of the evening, which
is to establish a permanent bridge between the Silicon Valley Armenian
Community and AUA, that will be beneficial to both groups over the years to
come. “AUA is one of the best fruits that the independence of Armenia
resulted in”, said Dr. Zorian. “It fully realizes the vision of its three
founders and it has been materialized with the great patronage of AGBU”.

Dr. Zorian told the guests that he has had the chance to witness the growth
of AUA at different intervals during the past decade, and has been impressed
with the quality of its programs that Virage Logic employees in Armenia were
offered as part of their continuing education.

It was an informative evening. Some of the guests rediscovered AUA. Many
valuable ideas were exchanged, and pledges for continuous support renewed.
This will help the American University of Armenia to improve its
entrepreneurship programs to enhance the leadership and organization skills
of the students, and to prepare them for active participation in building a
brighter future for Armenia.