COUPON BONDS OF "ARARATBANK" ASSIGNED "ABOND" LEVEL

Mediamax News Agency, Armenia
May 23 2007

Yerevan, May 23 /Mediamax/. The coupon bonds of "ARARATBANK" CJSC,
which underwent listing in the Armenian Stock Exchange, are assigned
the "Abond" level.

"Assigning the bonds of "ARARATBANK" CJSC "Abond" level by the
Armenian Stock Exchange means that the given bonds, according to the
results of their financial activity, meet the strictest requirements
of the upper level of listing of bonds, established by the Exchange",
Mediamax was told in the press service of "ARARATBANK".

Coupon bonds of "ARARATBANK" CJSC are emitted for the term of 12
months circulation, with the nominal value of 10.000 drams and annual
interest rate of 8%.