ARMENIAN CONVERSEBANK OFFERS VISA "GIFT" CARD TO CLIENTS

ARKA
September 18 2007

The Conversebank (Armenia) offers its clients a new plastic card,
VISA "GIFT", Head of the Plastic Card Department Benjamin Tedevosyan
told reporters.

"The card will help the bank’s clients who are not good at finding
presents for their relatives and friends. The VISA `GIFT’ card is
issued within a day and deposits the presented sum on the account,"
he said.

Tadevosyan reported that the card is in effect for tow years. It is
issued free of charge, with the service fee being 3,000 AMD.

He said that no commission charges on noncash transactions are
envisaged. The commission charge on cashing-in operations by means
of Converserbank ATMs is 0.5%.

Conversebank was incorporated on December 20, 1993. This February,
the Argentina-based Armenian businessman Eduardo Eurnekian purchased
the bank. The bank has 17 branches.

By June 30, 2007, the bank’s assets had amounted to 43.6bln AMD, total
capital 10.2bln AMD, net profit 563.2bln AMD (January-June 2007),
balance profit 6.2bln AMD, and the profit on the capital account
(June 30, 2007). On June 30, 2007, the bank’s consumer crediting
portfolio was 3.6bln AMD, with 863.3mln AMD issued on security of cars.