RUSSIA’S ALROSA, ARMENIA SIGN DEAL IN GEMS CUTTING

Prime-Tass English-language Business Newswire, Russia
August 6, 2007 Monday

Sergei Vybornov, president of Russia’s uncut diamond monopoly Alrosa,
and Nerses Yeritsyan, economic development and trade minister of
Armenia, have signed Monday a cooperation agreement on gems cutting
and jewelry production, ITAR-TASS reported.

The Armenian ministry said that the parties plan to set up a joint
venture that will include Diamond Company of Armenia.

No other details were provided.

Alrosa is responsible for 25% of the world’s uncut diamond output.

Diamond Company of Armenia is owned by Gagik Abramyan, a member of
the Armenian parliament and head of the International Association of
Armenian Jewelers.

From: Emil Lazarian | Ararat NewsPress