"CASCADE BANK" ANNOUNCED THE LAUNCH OF A NEW INITIATIVE ON MORTGAGE LOANS FOR REPRESENTATIVES OF THE YOUNGER GENERATION

Mediamax Agency
Nov 30 2007
Armenia

Yerevan, November 30 /Mediamax/. "Cascade Bank" announced the launch
of a new initiative on mortgage loans, within the framework of which
people up to 35-years-old will be offered special conditions.

As Mediamax was told in "Cascade Bank", starting from December 1 of
2007, the bank offers to lend up to 80% loans to the apartment value,
for a maximum repayment term of 16 years at the annual interest rate
of 11.75%.

For customers up to 35-years-old, the bank offers 80% loans to the
apartment value, for a maximum repayment term of 20 years at the
annual interest rate of 11.50%.

The Vice Chairman of "Cascade Bank" Board Jonathan Stark noted that the
goal of the given initiative is to make mortgages more attractive and
affordable, with special appeal to the younger generation of borrowers.

This offer applies to mortgage applications presented between December
1, 2007 and 31 March 2008.