VTB BANK ARMENIA AND MONEYGRAM SIGN COOPERATION AGREEMENT

ARKA
Nov 6, 2009

YEREVAN, November 6, /ARKA/. VTB Bank Armenia and the international
money transfer system MoneyGram signed last month a cooperation
agreement, VTB Bank Armenia said in a statement today. It said
now its customers can send and receive money-US Dollars and Euros-
through this safe and fast system.

In comments on this agreement, VTB Bank Armenia CEO Valery Ovsyanikov
said the bank has chosen MoneyGram because it has a wide network of
agents and because it offers speedy money transfer operations.

Customers can receive money in just minutes.

Now, according to Ovsyanikov, VTB Bank Armenia customers can also
choose the currency in which they would like to receive or send money.

MoneyGram operates about 180,000 agents and financial institution
customers in over 190 countries.

It also allows a free extra message of 10 words with the money
transfer.

VTB Bank Armenia and MoneyGram started their cooperation in 2009
September. Now MoneyGram services are available to all VTB Bank Armenia
customers in its 74 branches across Armenia in Yerevan and all regions.

As of November 1 VTB Bank Armenia offered its customers six different
money transfer systems. All 100 percent of shares in VTB Bank Armenia
are owned by the second largest Russian VTB Bank.