AUCTION OF STATE BONDS WITH 11-WEEK REDEPTION PERIOD HELD

Noyan Tapan

Dec 19, 2008

YEREVAN, DECEMBER 19, NOYAN TAPAN. An auction of state (treasury)
short-term bonds of AMGT11053095 issue with a 11-week redemption
period was held on December 18.

According to the RA ministry of finance, the total amount of bonds
subject to placement made 1 billion drams (about 3 million 247 thousand
USD), demand – 1 billion 306 million 572 thousand drams. The placement
of bonds made 1 billion drams. The revenues from placement amounted
to 981,112,233 drams.

The weighted average yield of placement made 9.0006%. 9 dealers and
the treasury depository participated in the auction.