ARMENIAN CB PERMITS "ITB" TO JOIN "LEADER" PAYMENT SYSTEM

Arka News Agency, Armenia
Dec 20 2006

YEREVAN, December 20. /ARKA/. The Central Bank of Armenia (CBA)
permitted the International Trade Bank (ITB) to join the "Leader"
international payment system.

By September 30, 2006, Armenia’s banks had been members of the
following payment systems: Western Union, Money Gram, Anelik,
Unistream, Express Post, Interexpress, Contact, Lider, Migom, Privat
Money Transfer, STB Express, Armenian Express.

Also, the following nonblank organizations participated in
money-transfer systems: "Haypost", Armenian Express, Contact, Travelex
and Stefi.

The LEADER system is a system of express money transfers for
individuals without opening bank accounts. The LEADER system is
operated by the Moscow-based "BMT" company.

The system work in 14 countries (594 cities).

The ITB was founded on the basis of the "Bank Menatep-Yerevan" CJSC
in 2992 as the Yerevan branch of the "Menatep" bank.

In April 2000, the bank’s shares were purchased by foreign companies,
which alter merged to form Makarios (MG) Holdings GMBH. The bank was
renamed the International Trade Bank (ITB) CJSC.

Makarios (MG) Holdings GMBH purchased 99.91% of the bank’s shares.

Makarios (MG) Holdings GMBH unites about 60 companies incorporated
in Austria, Great Britain, Ireland, Switzerland, Cyprus as well as
in a number of the CIS countries.

By September 30, 2006, the ITB’s total assets had amounted to AMD
4.3bln, AMD 2bln, total capital AMD 3bln. The bank currently has four
branches.