BOARD OF GOVERNORS OF LINCY FUND PROGRAMS SUMS UP RESULTS OF
COMPETITION FOR CONSTRUCTION OF NEW HIGHWAY IN YEREVAN

Arka News Agency, Armenia
June 22 2006

YEREVAN, June 22. /ARKA/. The board of governors of Lincy fund programs
summed up results of competition for construction of a new highway
connecting streets Heratsi, Saralanji and Avetisyan within bounds of
"Reconstruction of Yerevan Streets" program during a session held
under the direction of the Board’s Chairman, head of President’s
administration, the RA President’s Press service reports.

On basis of proposal made by the Competition Commission the board
of governors chose three construction companies, which will do the
construction work in three parts of Yerevan.

Lincy Fund has been functioning in Armenia since 2001 and is financed
by an American entrepreneur of Armenian origin, billionaire Kirk
Kirkoryan.

In Armenia the second 2006 program of the fund amounts to $60 mln,
which will be spend on construction and reconstruction of roads,
schools and Yerevan streets. S.P.–0–