ARMENIAN PM RECEIVED THE DELEGATION OF THE LEBANESE "CREDITBANK"

Mediamax Agency, Armenia
Aug 29 2007

Yerevan, August 29 /Mediamax/. Armenian Prime Minister Serzh Sarkisian
received in Yerevan today the delegation of the Lebanese "CreditBank",
headed by the Chairman of the Board of Directors Tarek Khalifan.

As Mediamax was told in the press service of the government, Serzh
Sarkisian welcomed the intention of "CreditBank" to start activities
in Armenia, noting, that the initiative is in harmony with the policy
of the government on developing the financial market of the republic.

According to the Prime Minister, the experience of "CreditBank"
may be useful for Armenia, as Lebanon is traditionally considered a
financial center and it has reached serious progress in the sphere
of developing financial markets.

Tarek Khalifan noted that, following the results of the meetings
and discussions with their counterparts from the Central Bank and a
number of commercial banks, the intention of "CreditBank" on starting
activities in Armenia became much stronger.

As Khalifan noted, "our bank will be glad to contribute to the
development of economy in Armenia".

Chairman of the Board of Directors of "CreditBank" also stated
the readiness to cooperate with the Armenian government for the
realization of investment programs in the spheres of agriculture,
development of infrastructures and industry.