VTB-ARMENIA BANK IS NOT UNDER THREAT

Panorama.am
19:00 15/10/2008

The press service of "VTB-Armenia" officially rejects the news stating
that the bank has problems with consuming market. Remind that in these
days the former Prime Minister of Armenia Hrant Bagratyan invited a
press conference to analyze the international economic crisis and its
impact on Armenia. Bagratyan said that the international banks face
real difficulties and "VTB" and its Armenian branch are also under
threat of liquidization.

"VTB-Armenia" assures that they are universal daughter bank in the
frames of "VTB" group and not a branch of it. The bank also rejects
the statement made by H. Bagratyan on "Teghut" CSJC.