GOVERNMENT APPROVES GIVING ARMENIAN POST COMPANY TO A DUTCH FIRM

Armenpress
Oct 20 2006

YEREVAN, OCTOBER 20, ARMENPRESS: The Armenian government has
reconfirmed revoking an agreement with Converse-Invest company that
was granted by it the right to manage Hay Post (Armenian Postal
Services) company.

Armenian transport and communication ministry said the government
has approved the process of giving Hay Post to concession management
of Hay Post Trust company. It said this process was managed with the
assistance of a Dutch ING consulting firm.

The ministry said Hay Post Trust is owned by PostFinance Dutch
investment company, which the ministry said is offering assistance
to postal companies of developing countries.