UKRPROMBANK BUYS 35% OF ARMINVETSBANK SHARES

Yerevan, April 21. ArmInfo. UkrPromBank, Ukraine, officially announced
today about purchasing 35% of ArmInvestBank shares, Armenia.

The UkrPromBank report states that the purchase was made by its own
means. It aims entering the Armenian banking market. The report says
nothing of the amount of the deal nor of any perspectives of
UkrPromBank on the international market.

‘Kommersant’ newspaper, Ukraine, reports that UkrPromBank will realize
a part of its operations through the Armenian financial
structure. ‘Armenia is traditionally used for schemes of capital
withdrawal and avoiding taxes,’ said a director of a major bank,
preferring to remain incognito.

According to the information of the Association of Ukrainian Banks, as
for March 1, 2006, UkrPromBank was the 12-th in the Ukrainian banks
ranking list by assets (4,24 billion grivna) and 9-th by funds (652,48
million grivna). According to ArmInfo (Agency of Rating, Marketing and
Information), authorized capital stock of ArmInvestBank are $5,3
million (14-th place), assets – $21 million (13-th place). As for
December 31, 2006, 35% of its shares belonged to Grigor Sukiasian,
15,6% to Unibank, the rest (49,4%) to other shareholders, each owning
less that 10%.