THE U.S.-REGISTERED ADVANCED GLOBAL INVESTMENTS LLC BECAME THE NEW OWNER OF THE CONTROLLING INTEREST OF "CONVERSE BANK"

Mediamax Agency, Armenia
Feb 5 2007

Yerevan, February 5 /Mediamax/. The owner of the controlling interest
of "Converse Bank" became the Advanced Global Investments LLC,
registered in the USA, which is owned by the Argentinean entrepreneur
of Armenian origin Eduardo Eurnekian.

As Mediamax was told in the Advanced Global Investments LLC today,
the Holy See of Echmiadzin, which was donated 5% of the shares of
"Converse Bank" by one of the previous owners, expressed the wish to
remain the share-holder together with the new owner of the bank.

"We are very happy to enter the banking sector in Armenia, by
purchasing one of the most successful and mature banks in Armenia"
said Eurnekian after the completion of the transaction.

Mediamax recalls that "Converse Bank" announced on February 1 that
Eduardo Eurnekian was the new owner of the bank.