ARMENIAN ARARATBANK TO COMPLETE RESTYLING PROGRAM BY OCT

ARKA
September 17 2007

The Armenian Araratbank intends to complete its restyling program
late in September, the bank’s press service reported on Monday.

Late in September, the Araratbank will complete the restyling program,
which has been implemented over the last two months. In October,
the bank will have a new logo, new colors, a new advertising policy
and new services, the report says.

Specifically, the bank’s new logo, with two mountain tops on it, means
not only the bank’s name but also the dynamics of its development.

"As the most rapidly developing bank of Armenia’s banking system, the
third open joint-stock bank, which is expanding its branch network,
list of services and improving their quality, increasing the crediting
of the real economic sector and has found its niche on the bond,
mortgage, consumer crediting and deposit markets and is preparing for
an initial public offering in Armenia, expanding its relations with
international and European organizations, Araratbank intends to hold
a dominant position in Armenia’s banking system and financial market,"
the report says.

The Araratbank public corporation was founded on September 2, 1991. On
October 31, 1996, was received Banking License #4.

By June 30, 2007, the bank’s assets had amounted to 8.5bln AMD,
credit investments and other holdings 5.2bln AMD. The bank’s capital
had totaled 4.2bln AMD, and authorized capital 3.44bln AMD. ($1 –
341.02 AMD).