ARMENIAN CONVERSEBANK OFFERS NEW FIXED DEPOSIT

ARKA
March 24, 2009

YEREVAN, March 24. /ARKA/. The Armenian Conversebank has announced a
new fixed deposit, Zartonk (Revival). The Conversebank press service
reports that the action will last March 23 to June 23.

The bank will receive both AMD and USD deposits, the minimum sum
being 150,000 AMD or $500 for six to 12 months.

The annual interest rate for 6-month deposits is 10% and for 12-month
deposits is 13% for AMD deposits, and 7% and 9% respectively for USD
deposits. Monthly interest payments will be effected.

A raffle will be held as part of the action, and the depositors will
receive prizes.

A bonus system will be applied to Conversebank personnel, the report
says.

The Conversebank is one of the leading Armenian banks. It was
incorporated in 1993. The bank’s stock is held by the Advanced Global
Investments Ltd (95%) and the Armenian Apostolic Church (5%). The
bank has a 550-member staff and 25 branches in 13 Armenian cities.

As of February 28, 2009, the bank’s capital totaled 12.9bln AMD,
assets 72.2bln AMD, liabilities 59.3bln AMD.