ARMENIAN MINISTRY, NUKE PLANT, RUSSIA’S TVEL INK COOPERATION ACCORD

Prime-Tass Business News Agency, Russia
November 8, 2006 Wednesday

MOSCOW, Nov 8 (Prime-Tass) – The Ministry of Energy of Armenia, the
Armenian Nuclear Power Plant and Russian state-owned uranium producer
TVEL have signed an accord on cooperation, TVEL said Wednesday.

In particular, the power plant and TVEL plan to work together to
enhance nuclear fuel safety and extend the lifetime of the plant’s
second power-generating unit, TVEL said.

In addition, TVEL is expected to supply new generation nuclear fuel
for the power plant, Anton Badenkov, TVEL’s acting president, said.

The Armenian Nuclear Power Plant has been using Russian fuel since
its launch in 1980. TVEL has been the power plant’s supplier since
2001. In 2005, an agreement was signed that made TVEL the power
plant’s supplier of nuclear fuel for the rest of the plant’s lifetime.

In 2005, nuclear energy accounted for 42.7% of all energy produced
in Armenia. The Armenian Nuclear Power Plant, the sole nuclear power
plant in the country, only operates its second power-generating unit.

The first unit was shut down in 1989 and is currently being dismantled.