AMERIABANK MAY PURCHASE BANK IN ARMENIA

ARKA
Oct 20, 2008

YEREVAN, October 20. /ARKA/. Ameriabank plans to purchase a new bank
in Armenia.

At a press conference at the Novosti international press center,
Tigran Jrbashyan, Director for Development, Ameriabank CJSC, reported
that Ameriabank is considering a number of possibilities.

The bank plans aggressive development, considering the possibility
of purchasing new banks, which requires the use of not only its own
capital, but also the purchase of banks, he said.

Jrbashyan pointed out that the negotiations are under way, and
Ameriabank will make its choice.

"Any specific terms are yet difficult to cite. However, of importance
is our readiness for such steps and intent to ensure growth,"
Jrbashyan said.

He could not say whether the new bank will operate as part of
Ameriabank, or as an independent one.

"Both variants are possible. Of importance is Ameriabank being able
to effect this transaction," he said.

The Ameriabank CJSC (formerly Armimpexbank) was founded in July 1992,
using the facilities of the Armenian branch of the USSR Vnecheconombank
(Foreign Economic Bank). On September 8, 1992, the bank was licensed
by the Central Bank of Armenia (CBA).

Last August, the bank’s stock was purchased by TDA Holdings Limited, an
affiliate company of Russia’s leading investment company Troika Dialog.

This May the bank was renamed Ameriabank.

According to the preliminary information for the 3rd quarter at
ARKA’s disposal, Ameriabank had the eighth largest assets among the
22 commercial banks operating in Armenia. The bank also ranked 12th
in terms of liabilities, 4th in terms of total capital, being the
leader in terms of authorized capital.