RA PRIME MINISTER TIGRAN SARGSYAN RECEIVED A DELEGATION HEADED BY SERGEY VYBORNOV, THE PRESIDENT OF ALROS, WHICH IS A LEADING RUSSIAN DIAMOND MINING COMPANY

Wedn esday, 4 March 2009

RA Prime Minister Tigran Sargsyan received a delegation headed by
Sergey Vybornov, the President of ALROS, which is a leading Russian
diamond mining company.

The parties discussed the cooperation prospects amidst the global
financial and economic crisis, as well as the possibilities for
supporting key Armenian diamond processing companies.

The President of ALROSA suggested providing Armenia with a sizeable
credit line which will enable our country to get as much rough diamond
from this Russian company as is necessary to meet Armenian entities’
requirements in raw materials for a few years ahead.

The two sides agreed to hold an extra discussion concerning the details
of this mutually beneficial facility allowing for any eventual risks
as seen from the Lender’s and the Borrower’s perspective, as well as
considering the possible impact of the global financial and economic
crisis.