RUSSIAN RAILWAYS TO SIGN DEAL TO MANAGE ARMENIAN RAILWAY WED

Prime-Tass English-language Business Newswire
February 11, 2008 Monday 6:53 PM EET

Russian Railways President Vladimir Yakunin and Armenian Transport
and Communications Minister Andranik Manukyan will sign Wednesday a
concession agreement, whereby Russian Railways will manage Armenian
Railway, the Russian company said in a statement Monday.

Russian Railways was awarded a 30-year concession to manage Armenian
Railway at a tender in January. The concession can be extended for
20 years after the first 20 years of operations.

Russian Railways’ wholly owned subsidiary South Caucasian Railway
will manage Armenian Railway starting the second half of the year.