ARMENIAN ARARATBANK LAUNCHES ARARAT-DEALING SYSTEM

ARKA
Sep 26, 2008

YEREVAN, September 26. /ARKA/. Araratbank (Armenia) has launched a
new multifunctional system, Arart-Dealing.

At his press conference, Araratbank Board Vice-Chairman Artur
Hakobyan reported that the new system, which meets present-day market
requirements, enables clients to effect exchange transactions by
means of PCs or mobile phones irrespective of their whereabouts.

"The Ararat-Dealing system allows of any exchange operations on easy
terms in contrast to the ones carried out by banks and on the market,
within the balance on clients’ USD and AMD accounts," Hakobyan said.

He stressed that the system will also enable individuals and
nonresidents to effect cross rate transactions.

This simple and reliable system provides clients with all the
information on previous operations as well as on the account balance,
Hakobyan said.

He pointed out that the service will be free of charge until the end
of October. Later "nominal the bank charges" will be set.

Araratbank is active on the exchange market, and the new service will
allow the bank to attract new clients and provide access to it for
its old clients, Hakobyan said.

David Harutyunyan, Director of the Dealing Center, pointed out
that the users can also get the latest information on the financial
situation, the bank’s weekly exchange rate forecasts, stock indices,
as well as on the rates set by the Central Bank of Armenia (CBA),
prices for oil and precious metals.

Harutyunyan said that the system does not set any restrictions on
transactions, with the same exchange rate in effect for any operations.

He pointed out that the system will only be available for exchange
transactions. However, the bank plans to launch a similar system on
the securities market.

The Araratbank OJSC, successor of Armcommunicationsbank, was founded
on September 2, 1991. On October 31, the bank received License #4.

By June 30, 2008, the bank’s assets had amounted to 25.1bln AMD and
total capital 5.3bln AMD. The bank’s profit totaled 346.6mln AMD in
the 1st half of 2008.

The bank has the 14th largest assets and deposits in Armenia’s banking
system, the 15th largest total capital. The bank also records the
10th largest profit.