THREE BRANCHES RECEIVE DIPLOMAS FROM VTB GROUP FOR SUCCESSFUL ACTIVITY

ARKA
March 25, 2008

YEREVAN, March 25. /ARKA/. Three branches of VTB Bank (Armenia)
have received a diploma from VTB Group for successful activity.

Press service of VTB Bank (Armenia) says the award ceremony was held
last week as part of the meeting of the heads of VTB Group regional
offices.

VTB Group President Andrey Kostin handed the diplomas to Valery
Ovsyannikov, general director of VTB Bank (Armenia).

Diplomas are given to three branches – Armavir (for best financial
indicators), Echmiadzin (for dynamic development) and Kapan (for the
year’s breakthrough).

VTB Bank (Armenia), former Armenian savings Bank, was founded in 1923.

100% of the bank’s shares belong to Russian VTB.

As of Dec 31, 2007, the bank’s assets totaled AMD 70.1 billion and
capital AMD 20.7 billion. The bank’s profit for 2007 amounted to AMD
757.9 million.

VTB Bank (Armenia) has 89 branches in Yerevan and provinces as well
as in Nagorno-Karabakh Republic. ($1 = AMD 308.77).