HSBC ARMENIA BANK TO SPEND $1 MILLION IN 2010 FOR ISSUING 20,000 DEBIT CARDS

/ARKA/
September 16, 2009
YEREVAN

YEREVAN, September 16, /ARKA/. HSBC Armenia Bank chief executive
officer Tim Slater said Tuesday that the Bank will invest $ 1 million
next year to issue 20,000 debit cards.

"Next year our major investments will be in credit cards,’ he said
at a news conference Tuesday, adding that HSBC Armenia did not plan
introduction of new services in 2010.

"We believe that our branches, ATMs, telephone services and Internet
banking are what we need to offer our customers today, " he said.

HSBC Bnak Armenia is a subsidiary of HSBC Bank plc. It was registered
in Armenia in 1995.

HSBC Bank plc holds 70% of HSBC Bank Armenia; 30% are owned by
Diaspora Armenians. HSBC Bank Armenia joined NASDAQ OMX Armenia in
2009 January.