MANAGEMENT OF YEREVAN BRANDY PLANT DENIES RUMORS ABOUT SALE OF ENTERPRISE

Yerevan, September 6. ArmInfo. The Yerevan Brandy Plant (EBC) has
spread an open letter, on behalf of the YBC President and Director
General, Erve Karoff, addressed to the leader of the Democratic party,
the RA Parliament deputy, Aram Sarkissyan, in which he denies the
rumors, spread by the deputy, about the plant sale.

It is noted in the letter that the Yerevan Brandy Company is not
subject to sale. "We are very proud of this branch of the "Perno
Ricard" Group and we connect many ambitious plans with it. During the
last 8 years we have proved our strive to the a long-term development
and increase of the "ArArAt " brand. Your recent statements in the
press contain serious and groundless accusations about our enterprise",
it is said in the letter.

To be noted, the Yerevan Brandy Company was sold to Perno Ricard Group
in May, 1999 for $30 mln and, at present, it is The biggest exporter
of the Armenian brandy and a leader in the grapes storage.

The volumes of sales in 2005 made uop 4,4 mln l of brandy.