THE MINISTRY OF FINANCE AND ECONOMY OF ARMENIA TO ISSUE STATE SAVINGS COUPON BONDS ON JANUARY 16

Mediamax, Armenia
Jan 15 2007

Yerevan, January 15 /Mediamax/. The Ministry of Finance and Economy
of Armenia will issue on January 16 state savings coupon bonds with 7%
bond-equivalent yield per year.

As Mediamax was told in the press service of the Ministry, the volume
of the bonds will make 100mln AMD.

The bonds will be available for purchase only for natural persons
and only in the centers of the Treasury of the Armenian Ministry of
Finance and Economy.

The term for free sale of the bonds is established till April 6 of
2007 inclusive. The coupon payments will be realized quarterly. The
retirement of bonds will take place on July 16 of 2007.

On January 16 the bonds will be sold at the price of the face-value,
afterwards – with an extra charge to the face-value.