ARMENIAN "CONVERSEBANK" TO START ACCEPTING "HOLIDAY" DEPOSIT FROM NOV 15

Arka News Agency, Armenia
Nov 7 2006

YEREVAN, November 7. /ARKA/. The Armenian "Conversebank" will start
accepting "holiday" deposit from November 15, 1006. The bank’s
Marketing Department reports that the deposit will take effect from
January 31, 2007. The deposit will be accepted in terms of both AMD
and USD fro 6-24 months. The annual interest rates are 9% for AMD
deposits and 8% for USD deposits. The interests can be paid every
month or at the end of the term.

In signing a deposit contract, the depositor will be afforded
an opportunity for making use of a credit line up to 100% of his
deposit, a safe at a 50-100 per cent discount depending on the deposit
amount. The depositor will also receive a free plastic card: VISA
ELECTRON if the deposit is AMD 300,000-AMD 5,000,000 or USD equivalent;
VISA CLASSIC if the deposit is AMD 5mln-AMD 15mln or USD equivalent;
VISA GOLD if the deposit exceeds AMD 15mln.

The "Conversebank" CJSC was incorporated on December 23, 1993. By
September 30, 2006, the bank’s assets had amounted to AMD 31.4bln,
total capital AMD 9.5bln, net profit AMD 1.3bln (in January-September
2006), and balance profit AMD 5.3bln (on September 30, 2006).