ORANGE TO INVEST $200 MILLION IN ARMENIA IN TWO YEARS

ARKA
June 11, 2009

YEREVAN, June 11. /ARKA/. Armenia’s third mobile operator Orange plans
to invest $200mln in Armenia in two years, said Deputy President of
Orange Europe Olaf Swantee.

The company plans to earmark some $80mln for Armenia already this year.

"Despite the global recession, Orange plans to fulfill its investments,
following the announced $200mln worth investments policy in two years,"
he was quoted as saying.

According to the Orange deputy president, the population-tailored
investments will enable the company apply state-of-the-art technologies
in Armenia.

Taking into account that Diaspora Armenians will also use the network,
the company’s investments will be justified, Swantee added.

He said Orange stands ready to make long-term investments in Armenia.

Subsidiary of France Telecom (under the Orange brand), Orange Armenia
received a 15-year license (with a 15-year prolongation option) for
communication services on November 19, 2008. The company is authorized
to use radio frequencies for 10 years and is allowed to use +374(0)55
and +374(0)95 codes.

On October 7, 2008, Armenia’s Tender Commission announced France
Telecom the winner of the bids for the third mobile operator in
Armenia with a â~B¬51.5mln GSM license offer.

ArmenTel (subsidiary of Russia’s VimpelCom) and VivaCell-MTS
(subsidiary of Russia’s MTS) had been the two mobile operators in
Armenia before Orange entered the local telecommunications market.