EBRD TO GIVE ARMENIAN ELITE GROUP $5.5 MILLION AS CREDIT AND 130,000 EURO IN GRANT

ARKA
June 30, 2009

YEREVAN, July 1. /ARKA/. On Wednesday, European Bank for Reconstruction
and Development and Elite Group, Armenian CJSC, will sign an agreement
on mid-term loan.

Under the agreement, the EBRD will lend $5.5 million to the
construction company and give 130,000 Euro in grants to encourage
energy-saving innovations.

Paul-Henri Forestier, EBRD regional director, is reportedly come to
Yerevan to sign the document.

Armenian Prime Minister Tigran Sargsyan, members of the Government
and businessmen will be present at the signing ceremony.

Elite Group engages in construction, interior decoration and service
of houses.