AREXIMBANK RENAMED GAZPROMBANK-ARMENIA

Noyan Tapan
March 31, 2008

YEREVAN, MARCH 31, NOYAN TAPAN. Areximbank recently announced
that its name was officially changed: henceforth it will be called
"Gazprombank-Armenia".

NT correspondent was informed by the press service of ArmRusgazprom
company that the necessity to rename the bank arose after Gazprombank
(Russia) acquired the control packet of Areximbank’s shares.

According to the same source, the director general of ArmRusgazprom,
chairman of the company’s board Karen Karapetian has been elected
chairman of Areximbank board.

To recap, Gazprombank OJSC is among the three largest banks of Russia
and ranks 3rd among largest banks of Central and Eastern Europe.