EBRD HOPES ARMENIA TO GET SOVEREIGN RATING IN 2006

Arka News Agency, Armenia
March 29 2006

YEREVAN, March 29. /ARKA/. European Bank for Reconstruction and
Development hopes Armenia to get sovereign rating in 2006, EBRD
Regional Director Michael Davey said Wednesday at a press conference
in Yerevan. In his words, negotiations between Armenian Government
and certain financial organizations are under way now.

Tigran Sargsyan, Chairman of the Central Bank of Armenia, speaking
Tuesday in Yerevan at an international banking conference focused on
foreign trade financing, said the Government’s negotiations with two
world rating companies are expected to result in receiving sovereign
investment rating by Armenia.

Sargsyan said all potential investments would recognize Armenia in
the world fiscal map and keep watch on changes in the republic’s
rating. He thinks it would be very important for the country.