ARMENIAN CB BOARD REGISTERED THE BRANCHES OF THE "AREGAK" AND "SEF INTERNATIONAL" CREDIT ORGANIZATIONS

Mediamax, Armenia
March 6 2007

Yerevan, March 6 /Mediamax/. The Board of the Central Bank of
Armenia made a decision today on registration of the branches of the
multi-purpose "Aregak" credit organization in Ararat, Abovian and
Yerevan, and the representative "Talin" office of the multi-purpose
"SEF International" credit organization.

As Mediamax was told in the CB press service today, the Board of the
Central Bank permitted the "ITB International Trade Bank" CJSC to
join the international Master Card system.

The CB Board also made changes to the orders "CB total turnover" and
"Business accounting of the CB securities".