ARMENIA TREE PROJECT
65 Main Street
Watertown, MA 02472
Tel: (617) 926-TREE
Email: jason@armeniatree.org
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FOR IMMEDIATE RELEASE
October 29, 2008

Armenia Tree Project Mourns the Loss of Harry T. Mangurian, Jr.

Successful Entrepreneur Was A Committed Friend, Advisor, and Benefactor of
Armenia’s People and Environment

By Jason Sohigian

FT. LAUDERDALE, FL–"Harry Mangurian’s keen business sense, creative mind,
and sense of humor provided me and our staff with even greater vigor and
inspiration to persevere in our work to create a healthier environment and
sustainable future for the people of Armenia," stated Armenia Tree Project
Executive Director Jeff Masarjian when he heard about the passing of Harry
T. Mangurian, Jr.

Born in Rochester, NY, Mr. Mangurian died in Ft. Lauderdale on October 19 at
age 82 after an eight-month battle with leukemia. Among his many
accomplishments, he turned a family furniture business into a nationwide
success, went on to become a prominent thoroughbred horse breeder in
Florida, and was the sole owner of the Boston Celtics for several years.

His father opened an Oriental rug business in 1925 in Rochester, which later
became a furniture store. The flagship Mangurian’s Inc. was opened in the
1940s, and Mr. Mangurian took over the business in the 1960s and transformed
it into a successful national chain that eventually included more than a
dozen stores.

Mr. Mangurian immersed himself in the business world and moved to Ft.
Lauderdale. He owned Drexel Investments, through which he built and sold
thousands of condominiums in south Florida in the 1970s and 1980s. In the
early 1970s, Mr. Mangurian became involved in breeding thoroughbred horses
and bought a 310-acre horse farm in Ocala, which he expanded to an
1,100-acre farm where he bred many top stallions. He led all breeders in
North America in 1998 through 2002 in earnings and races won.

In 1978, Mr. Mangurian traded the Buffalo Braves for the Boston Celtics, and
he was the sole owner of the team from 1980 through 1983. He was
instrumental in the signing of legends such as Larry Bird, Kevin McHale, and
Robert Parish, and under his ownership the Boston Celtics won the NBA
Championship in 1981.

"Harry was a solid owner. He was one who was a good, solid businessman. He
really helped bring the championship back to Boston back in 1981," stated
Celtics vice president of media services Jeff Twiss in an obituary in the
Boston Globe. "With his leadership, guidance, and working with Red Auerbach,
he helped raise our franchise up to that championship level."

Mr. Mangurian was a World War II veteran who served in the Navy in the
Pacific theater from 1943-1946, and he was involved in a number of
philanthropic causes. His initial contribution of $1 million to the National
Thoroughbred Racing Association "New York Heroes Fund" following the
September 11 attacks inspired others to contribute in excess of $6 million.

Mr. Mangurian has donated $5 million to the Michael and Diane Bienes Cancer
Center at Holy Cross Hospital in Ft. Lauderdale to establish the Dorothy
Mangurian Comprehensive Women’s Center and the Harry T. Mangurian, Jr.
Surgical Oncology Department.

He became closely involved with Armenia Tree Project in recent years,
helping the organization expand its fundraising capacity among
Armenian-Americans in support of its poverty reduction and tree planting
programs, and he has donated more than $1.2 million to ATP in recent years.

"We were very sad to learn of Harry’s passing. Harry first learned of ATP
from a mailing we sent out in 2005. He became interested in our work and
especially in helping us develop better strategies for fundraising to
support our program," recounted Jeff Masarjian. "Harry became a friend and a
mentor to me, and we would speak every week about ATP’s challenges and
successes in Armenia, and he would advise me on how to make the organization
more financially sustainable."

"We listened and learned because we knew he had been so successful in the
business and sporting worlds. We also hoped others would follow his example
and recognize the importance of our work in improving the lives of the many
impoverished families living in rural Armenia today, who are benefiting from
their participation in ATP’s programs," added Masarjian.

In 2006, Mr. Mangurian funded a research project to identify as many
Armenian households as possible in the US. "We added thousands of new names
to our database, and used the information to send two very unique mail
appeals that doubled our donor base within one year," noted Masarjian.

"Last fall we launched ‘Harry’s Challenge,’ in which he offered to match
every gift we received up to $500,000. This generated enormous enthusiasm
and we were able to exceed the challenge and raise more money that year than
any other in our history," he added. "Harry was much more than a benefactor
to ATP. He really believed in our work, and in helping the less fortunate
families in Armenia through our programs."

"He was really a very simple guy, very uncomplicated and he was successful
at it. If there ever was a guy without an ego, it was Harry Mangurian,"
stated long-time advisor and friend Gordon W. Latz of Ft. Lauderdale. "Life
has been very good to him. He’s done so many wonderful things and helped so
many people. Everything was done because he wanted to help people."

Mr. Mangurian is survived by his wife Dorothy, daughters Terry Skuse and
Tracy Jenkins, brother Pierce Mangurian and sister Ann Hanessian, four
grandsons, and two great-grandchildren. Armenia Tree Project is planting a
forest of 150,000 trees this fall in memory of Harry T. Mangurian, Jr. in
Jrashen Village in the Lori region of Armenia.