HSBC BANK ARMENIA OPENS TWO NEW BRANCHES

ARKA News Agency, Armenia
Sept 5 2007

YEREVAN, September 5. /ARKA/. HSBC Bank Armenia opens two new
branches. The official opening ceremony will be held in the bank’s
headoffice on September 15, the bank’s administration reported.

Among the participants of the presentation will be member of Board
of HSBC Holdings plc David Badd who was the first executive director
of HSBC Bank Armenia CJSC. Complete package of information about
financial and other activities of the bank will be presented at the
press conference.

HSBC Bank Armenia CJSC (daughter enterprise of HSBC Bank plc) was
registered on September 25 1995. HSBC Bank plc owns 70% of the shares
of HSBC Bank Armenia and is the daughter enterprise of HSBC Holdings
plc. The remaining 30% belong to foreign Armenian investors. As of
June 30 2007, the bank’s assets totaled AMD81bln, with total capital
making AMD9.4bln, balance profit AMD 6.4bln, profit for January-June
2007 AMD 1.9bln. Currently, the bank has four branches. ($1 =
AMD336.83).