VIVACELL IS NOT FOR SALE AND IT PLANS TO PLACE ITS SHARES ON STOCK EXCHANGE, HEAD OF THE COMPANY STATED

Mediamax
Jul 12 2007

Yerevan, July 12 /Mediamax/. General Director of VivaCell mobile
operator Ralph Yirikian refuted today the statements on the possible
sale of the company.

Mediamax reports that, speaking at a news conference in Yerevan today,
which was dedicated to the second anniversary of the company’s work on
the market, Ralph Yirikian compared VivaCell "to an 18-year-old young
lady, who has many worshippers, who want to tie their lives with hers".

However, he noted, "the young lady does not want to get married,
but she wants to realize her plans".

Recently, representatives of Russian mobile operators MTS and "Megafon"
in this or that form stated their interest towards the purchase of
the shares of VivaCell.

Member of the Board of Directors of VivaCell Hussein Rifai noted
that in 2008 the company will place its shares on the Armenian Stock
Exchange.

Ralph Yirikian expressed hope that "many of the 1mln subscribers
of VivaCell will become our share-holders". The number of shares,
which will be placed on the Exchange, is not yet determined.