USD BIDDING VOLUME $74.1MLN ON ARMENIAN STOCK EXCHANGE IN OCT 2007

ARKA News Agency, Armenia
Nov 2 2007

YEREVAN, November 2. /ARKA/. The USD bidding volume on the Armenian
Stock Exchange (ARMEX) reached $74.1mln or 24.2bln in October 2007.

According to the results of an analysis made by the ARKA News Agency
the USD bidding volume increased by $42.2mln (13.5bln AMD) or by 132.7%
(2.33 times) compared to September. A total of 589 transactions were
recorded in October – 297 transaction more than in September.

During the period under review, the USD average weighted exchange rate
ranged from 325 AMD/$1 to 334.3 AMD/$1. The highest exchange rate
was recorded on October 9 and the lowest on October 29. The largest
volume of transactions was recorded on October 30 ($10.9mln), and the
smallest on October 18 and 19 – $330,000 each day. No transactions
with Euro were effected.

ARMEX was incorporated in February 2001. The CBA licensed ARMEX for
organization of foreign exchange auctions on November 7, 2005. On
November 15, 2005, auctions were officially started.

The market exchange rates are: $1/325.16, ~@1/469.16 AMD.