ARARATBANK PRESIDENT TO SPEAK AT EBRD ANNUAL MEETING

ARKA
May 15, 2009

YEREVAN, May 15. /ARKA/. President of Araratbank Ashot Osipyan
will speak at the May 16 annual meeting of the European Bank for
Reconstruction and Development that kicked off today in London.

In his report entitled Araratbank aims at Society, Osipyan will
focus on the past achievements of Armenia’s banking system and the
challenges it faces.

He will also sum up the results of the three-year activities of the
banks, its short-term objectives and Araratbank-EBRD cooperation.

Official delegates, ministers and leading businessmen from 60 countries
are participating in the 18th annual meeting of EBRD and a business
forum in London.

Anti-crisis measure in the Central and Eastern Europe will be in
the spotlight of the discussions. EBRD shareholders will make their
assessments to the aftermath of the global financial crisis on Europe
and will discuss long-term cooperation.

Araratbank, the legal successor of Haykap (Armenian Communication
Bank), was established in 1991. EBRD holds 25% of the bank’s shares,
with an Armenian resident holding the rest of the 74.1% of the
shares.