EBRD, "ARMENIA- INTERNATIONAL AIRPORTS" TO SIGN CREDIT AGREEMENT

Arka News Agency, Armenia
July 11 2006

YEREVAN, July 11. /ARKA/. The European Bank for Reconstruction and
Development (EBRD) and the "Armenia-International Airports" CJSC are
to sign a contract agreement at the Marriot-Armenia hotel at 4:00 p.m.,
on July 13, 2006.

Under the contract the EBRD and the German Corporation of Investments
and Development (DEG) are to allocate a US $30mln credit for the
renovation and re-equipment of the "Zvartnots" airport.

On June 29, 2006, the Armenian Government approve the signing of a
"Direct Contract" between the "Armenia-International Airports" CJSC,
EBRD, DEG and the RA Government.

On June 9, 2002, the Yerevan "Zvartnots" airport was transferred
to concession to the Argentinian company "Armenia-International
Airports". P.T. -0–