RA PRIME MINISTER TIGRAN SARGSYAN ATTENDED THE SECURITIES-PLACEMENT CEREMONY FOR ARTSAKH HPP OJSC HELD AT MARRIOTT-ARMENIA HOTEL COMPLEX

Frid ay, 20 March 2009

RA Prime Minister Tigran Sargsyan attended the securities-placement
ceremony for Artsakh HPP OJSC held at Marriott-Armenia hotel
complex. The event was attended by NKR Prime Minister Ara Haroutunyan.

The placement of corporate securities is carried out by Armenbrok OJSC.

Artsakh HPP OJSC intends to direct the funds so mobilized towards
the construction of new HPPs in the NKR.

RA Prime Minister Tigran Sargsyan said in his speech that the
event had a special meaning not only because it was taking place
amidst the global financial and economic crisis, but also because it
could give rise to a new tide of activity in the financial market by
fostering economic recovery. The Prime Minister also spoke about the
attractiveness of the project for investors and its aptitude to promote
infrastructure development with the latter supposed to generate several
new jobs and build economic capacity in the Nagorno Karabakh Republic.