Crossroads E-Newsletter – June 25, 2009

PRESS RELEASE
Eastern Prelacy of the Armenian Apost. Church of America and Canada
H.E. Archbishop Oshagan Choloyan
Prelate, Easter Prelacy and Canada
138 East 39th Street
New York, NY 10016
Tel: 212-689-7810
Fax: 212-689-7168
Web:
Email: [email protected]

June 25, 2009

14th ANNIVERSARY OF THE PONTIFICATE OF
HIS HOLINESS CATHOLICOS ARAM
I
The 14th anniversary of the election and consecration of His Holiness
Aram I, Catholicos of the Great House of Cilicia, will be marked in
all Prelacy churches this Sunday, June 28. Pontifical Prayers and
Blessings will be offered during the Divine Liturgy. Catholicos Aram
was consecrated on July 1, 1995, by His Holiness Karekin I, Catholicos
of All Armenians.

PRELATE WILL BE IN NEW JERSEY ON SUNDAY

Archbishop Oshagan will preside over the Divine Liturgy and the
Pontifical Prayer for His Holiness Aram I, at Sts. Vartanantz Church,
Ridgefield, New Jersey, this Sunday, June 28. His Eminence will
deliver the sermon on this occasion.

ST. GREGORY OF DATEV INSTITUTE SUMMER PROGRAM BEGINS THIS SUNDAY IN
PENNSYLVANIA
Sponsored by the Prelacys Armenian Religious Education Council (AREC),
the 23rd
St. Gregory of Datev Institute Summer Program begins this
weekend. Over fifty students (mostly ages 13-18) from eleven Prelacy
parishes, and several
clergymen, will gather at the St. Mary of Providence Center in
Elverson, Pennsylvania, beginning Sunday, June 28, for the annual
summer program under
the directorship of Bishop Anoushavan Tanielian, the Vicar General of
the Eastern Prelacy. A number of the participants will attend the
weekend
retreat starting Friday, June 26.
The Institute offers a unique opportunity for our youth to learn the
essentials of Armenian Christianity in a wholesome and nurturing
environment. Each day the program begins with Morning Service from
7:15 am to 7:45
am. Four classes are held from 8:30 am to 12:30 pm. In the afternoons,
the students enjoy recreational activities, such as volleyball,
soccer,
basketball, and swimming. In the evening there is a panel discussion
from 7:30 to 8:20, followed by three concurrent Bible studies from
8:30 to 9:30
for different age groups. The day comes to a close with the Compline
Service (Husgoom) from 9:45 to 10:30
pm.
The Instructors of the Institute this year are: Bishop Anoushavan
Tanielian, Rev. Fr. Khoren Habeshian,
Rev. Fr. Antranig Baljian, Rev. Fr. Nerses Manoogian, Rev. Fr. Sarkis
Aktavoukian, Rev. Fr. Stephan Baljian, Dn. Shant Kazanjian, Dn. James
Haddad,
Mrs. Denise Borekjian, and Ms. Jeanette Nazarian.
This year the Institute is privileged to have three guest
instructors: Rev. Fr. Paul Tarazi, Professor of Biblical Studies at
St. Vladimirs Orthodox Theological Seminary; Michael Papazian,
Associate
Professor and Chairman of the Religion and Philosophy Department of
Berry College, and Edward G. Matthews, Recurring Visiting Professor of
Early
Christian Languages and Literature and Director of Research at
St. Nersess Armenian Seminary.
We thank Mr. & Mrs. Hagop Kouyoumdjian and Dr. & Mrs.
Drtad Manguikian for their generous assistance in sponsoring the Datev
Summer Institute.
For more information
about the Datev Institute click
here (
4882/goto:
).

U.S. AMBASSADOR TO ARMENIA VISITS PRELACY
Ambassador Marie Yovanovitch, the United States ambassador to the
Republic of Armenia, visited the
Prelacy Tuesday, June 23. The Ambassador met privately with the
Prelate, Archbishop Oshagan, prior to a reception where
representatives of area
Prelacy parishes and affiliate organizations listened to the
Ambassadors presentation. The Prelate welcomed the Ambassador and her
assistant,
Susan Christy to the Prelacy and hoped that there would be additional
opportunities of mutual conversation. He acknowledged the presence of
His
Excellency Armen Martirosian, the Republic of Armenias Permanent
Representative to the United Nations.

Ms. Yovanovitch spoke about the need for accountability and the
struggle against a culture of corruption at all levels of government
and civil
society. She spoke about irregularities in elections, including the
recent election in Yerevan. Speaking about the economic conditions of
the country,
she noted that the World Bank has projected that Armenias poverty rate
will go from 23 to 28 percent by next year. She stressed that U.S.
assistance is making Armenia more competitive and economically
viable. She spoke about the benefits of open borders between Armenia
and Turkey,
predicting that Armenias GDP would go up. We believe that Turkey and
Armenia will find they have more that unites them than divides
them.
A lively question and answer period followed with questions about the
reduced U.S. aid to
Armenia, the double-standard shown by the U.S. concerning the Karabagh
issue. Questions were raised about the U.S. attitude about the
Armenian
Genocide, specifically President Obamas statement this
year. Ms. Yovanovitch responded, I know there is disappointment and
even anger
at President Obamas April 24th statement, but he went further in his
statement than any previous American
president.
After the Q & A, the Ambassador spoke with many of the attendees,
listening to their
concerns and answering their questions.

HOUSE COMMITTEE REJECTS AID CUTS TO ARMENIA

The House Committee on Appropriations reversed the nearly 40% cut
requested by the Obama administration and maintained funding for
Armenia at
last years allocation of $48 million. In addition, $10 million was
allocated for Nagorno Karabagh and the Committee restored military
parity between Armenia and Azerbajian. The Committee also rejected the
20% funding increase for Azerbaijan proposed by the administration. A
vote in
the House may take place next week.
PRELATE WILL ATTEND HAMAZKAYIN RECEPTION

Archbishop Oshagan will attend the opening ceremony and reception of
the 33rd regional convention of the Hamazkayin (Eastern U.S.), which
will take
place tomorrow, Friday, June 26, at Sts. Vartanantz Church,
Ridgefield, New Jersey. The weekend event is in celebration of
Hamazkayins 81
years of cultural and educational service.

RELIGIOUS AND EXECUTIVE COUNCILS WILL MEET

The Religious and Executive Councils of the Eastern Prelacy will meet
this weekend, Friday evening and Saturday, June 26 and 27, at the
Prelacy
offices in Manhattan.

PRELATE WILL ATTEND HOVNANIAN SCHOOL
GRADUATION
Archbishop Oshagan will attend the 8th grade graduation ceremonies of
the Hovnanian School
in New Milford, New Jersey, this Sunday afternoon, June 28.

ST. STEPHENS ELEMENTARY SCHOOL
GRADUATION
The St. Stephens Armenian Elementary School in Watertown,
Massachusetts, completed
its 25th academic year with kindergarten graduation ceremonies on June
18 and elementary graduation ceremonies on June
19.
John Daghlian, chairman of the St. Stephens Board of Trustees and
Archpriest Fr. Antranig Baljian,
pastor of St. Stephens Church, expressed their appreciation to the
administration and faculty for their dedication and
effort.
Kindergarten graduates were: Nareg Aboyan, Arek Adourian, Antranig
Atinizian, Isabella Balian, Berj
Chekijian, Ani Davidian, Lori Ganjian, Angelina Halibian, Ani
Haroutunian, Shant Karamousayan, Knar Krafian, Elizabeth Krmzian,
Karina Melkonian,
Lilit Michaelian, Vahan Nadjarian, Ani Ourfalian, Garen Sahakian,
Gacia Vosbigian, and Isabella Yeghiayan.

Elementary School graduates were: Melanie Aftandilian, Shant Arouyan,
David Babikian, Tina Barsoumian, Koko Boyajian, Soleen Ghahraman,
Tenny
Gregorian, Ani Hackett, Kevork Hamparian, Antranig Kechejian, Varak
Mouradian, Jonathan Orchanian, Lori Sahakian, Parkev Terzian, and Ani
Vehapetian.

SERVICES IN FLORIDA

On Sunday, June 21, Armenians in the Orlando area, came together to
celebrate several holidays. The parish of Holy Cross Church came
together at the
St. Francis Anglican Church for the Divine Liturgy, as well as the
flag blessing and thanksgiving service for the Republic of
Armenia. The
guest celebrant was Rev. Fr. Daron Stepanian, pastor of St. Sarkis
Church in Dearborn, Michigan. Prior to the sermon, Der Daron conducted
the
thanksgiving service and flag blessing. The day also served as a
celebration of Mothers Day and Fathers Day.

After church services the parishioners gathered in the hall and the
tents outside in great fellowship, enjoying the shish kebob dinner and
games for
the children.

HRANUSH HAKOBIAN WILL VISIT PRELACY NEXT
THURSDAY
Hranush Hakobian, the Armenian Republics Minister of the Diaspora will
visit the
Prelacy next Thursday, July 2. The Ministrys mission is stated as: To
carry out state policy aimed at deepening and development
of Diaspora-Homeland cooperation. Ms. Hacobian will confer with the
Prelate, as well as community leaders about the important relationship
between the Diaspora and the Homeland, and how these ties can be
strengthened.

2009 PRELACY LINKED IN WEEKEND
The 2009
Prelacy LINKED IN weekend for young adults will take place September
25-27, at the Holy Virgin Mary Spiritual Vineyard, Charlton,
Massachusetts.
For more information click here (
4882/goto: 9.htm
).

YEAR OF THE YOUTH
His Holiness Aram I,
Catholicos of the Great House of Cilicia, has designated the year 2009
as the Year of The Youth.
To read His Holiness message in Armenian click here (
4882/goto: 4/doc/Pontifical%20Messages/messages68.htm
).
To
read His Holiness message in English click
here (
4882/goto: 9.htm
).

CATHOLICOS ARAM CHAIRS G8 PREPARATORY
MEETING
His Holiness Aram I, Catholicos of the Great House of Cilicia, chaired
the deliberative
sessions of the G8 Preparatory Meeting on June 17th in Rome. In his
brief introduction he urged the participants to work together in order
to overcome
the current economic crisis. He then invited the participants to share
the priority concerns of their regions.

ONE DAY ADULT SEMINAR THIS SATURDAY
A
one-day seminar for adults will take place this Saturday, June 27, at
St. Mary of Providence Retreat Center in Elverson, Pennsylvania, prior
to the
beginning of the St. Gregory of Datev Institute summer studies
program. The seminar is organized by the Christian Education Committee
of St. Gregory
the Illuminator Church, Philadelphia. Guest lecturers Bishop
Anoushavan Tanielian, Vicar of the Prelacy, and Archpriest Fr. Nerses
Manoogian, pastor
of St. Gregory Church, Philadelphia, will discuss spirituality in the
Armenian Church.
For more information
click here (
4882/goto: SeminarFlyer.pdf
) and for a
registration form click here (
4882/goto: SeminarForm.pdf
).

DAILY BIBLE READINGS
Bible readings for
today, Thursday, June 25, are: Isaiah 1:21-31; Romans 7:25-8:11;
Matthew 12:38-45.
Then some of
the scribes and Pharisees said to him, Teacher, we wish to see a sign
from you. But he answered them, An evil and adulterous
generation asks for a sign, but no sign will be given to it except the
sign of the prophet Jonah. For just as Jonah was three days and three
nights in
the belly of the sea monster, so for three days and three nights the
Son of Man will be in the heart of the earth. The people of Nineveh
will rise up
at the judgment with this generation and condemn it, because they
repented at the proclamation of Jonah, and see, something greater than
Jonah is
here! The queen of the South will rise up at the judgment with this
generation and condemn it, because she came from the ends of the earth
to listen
to the wisdom of Solomon, and see, something greater than Solomon is
here!

When the unclean spirit has gone out of a person, it wanders through
waterless regions looking for a resting place, but it finds none. Then
it
says, I will return to my house from which I came. When it comes, it
finds it empty, swept, and put in order. Then it goes and brings
along seven other spirits more evil than itself, and they enter and
live there; and the last state of that person is worse than the
first. So will it
be also with this evil generation. (Matthew 12:38-45)

For listing of the coming weeks Bible readings click
here (
4882/goto: .pdf
).

FEAST OF THE DISCOVERY OF RELICS OF ST.
GREGORY
This Saturday, June 27, the Armenian Church commemorates one of the
three feast days
dedicated to St. Gregory the Illuminator: The Discovery of His
Remains. The other two commemorations are his entrance into the pit
and his deliverance
from the pit.
St. Gregory is the greatest figure in the Armenian Church. He is
considered to be the
Apostle of Armenia. After years of evangelizing, St. Gregory sought
solitude and an ascetic life. He eventually chose a cave on Mount
Sepouh as his permanent living place. It was here that Gregory died
alone. Some shepherds found his body and without realizing who he was,
buried him
under a pile of stones. Later a hermit, Garnik of Pasen, who had been
a disciple of St. Gregory, saw a vision and went to Mount Sepouh where
he found
the site of Gregorys burial. He took the remains to the village of
Tordan for burial, where King Trtad was buried. Relics of St. Gregory
were
retained and sent to different locations as was the custom of the
time. Relics from the right hand of St. Gregory are at the Holy See of
Etchmiadzin
and the Holy See of Cilicia. The Catholicoi mix the new muron (chrism)
with the old muron with the golden Right Hand that contains the
relics.

REMEMBERING CATHOLICOS KAREKIN I
This
Monday, June 29, is the tenth anniversary of the passing of His
Holiness Karekin I, Supreme Patriarch and Catholicos of All Armenians
from 1995 to
1999; Catholicos of the Great House of Cilicia from 1977 to 1995; and
Prelate of the Eastern Prelacy from 1973 to
1977.
Tenth anniversary requiem service, as well as other memorial events
are scheduled to take place in Holy
Etchmiadzin in September.

CALENDAR OF EVENTS

June 28Annual Madagh Picnic, St. Hagop Church (Racine),
at Johnson Park Picnic Grounds, 6200 Northwestern Ave., Racine,
Wisconsin, 10:30 to 7 pm.

June 29 July 5St. Gregory of Datev Summer
Institute, St. Mary of Providence Center, Elverson, Pennsylvania.

July 18Sts. Vartanantz Church, Providence, Rhode
Island, Ladies Guild/ARS Chapter present a Hye Summer Night 4 Dance at
The Annunciation Greek Church, Cranston, Rhode Island. For information
401-434-4467.

July 22Gathering of North American youth in Los
Angeles, organized by the Western Prelacy with the participation of
the Eastern and Canadian Prelacies.

August 2Sts. Vartanantz Church, Providence, Rhode
Island, Annual Picnic and Blessing of Madagh and Grapes at Camp
Haiastan, Franklin, Massachusetts, 12 noon to 6 pm, rain or
shine. Music by John
Berberian and Ensemble.

August 8National Association of Ladies Guilds (NALG)
religious seminary hosted by the Ladies Guild of St. Gregory Churchy
of Merrimack Valley, North Andover, Massachusetts. For information:
[email protected] (mailto:[email protected]) or 781-762-4253.

August 9St. Stephens Church, Watertown,
Massachusetts, annual picnic and blessing of madagh and grapes at Camp
Haiastan, Franklin, Massachusetts. Starts at 12 noon, rain or
shine. Live
music.

August 9Holy Trinity Armenian Apostolic Church,
Worcester, Massachusetts, annual picnic and blessing of the grapes.

August 16Sts. Vartanantz Church, Ridgefield, New
Jersey, annual picnic and Blessing of the Grapes.

August 16St. Asdvadzadzin Church, Whitinsville,
Massachusetts, picnic and Blessing of the Grapes.

September 13Holy Trinity Armenian Apostolic Church,
Worcester, Massachusetts, 75th anniversary Holy Mass and banquet,
under the auspices of His Eminence Archbishop Oshagan Choloyan.

September 21St. Stephens (Watertown, MA)
Armenian School/ACEC 14th annual Golf Outing at Framingham Country
Club. $165 includes golf, lunch, dinner, and contests. For information
contact
Astor at 781-326-5764.

September 25-26-27Prelacy Linked In, gathering of the
youth. For details click
here (
4882/goto: 9.htm
).

October 1Sts. Vartanantz Church (New Jersey), presents
7th annual Golf Outing at River Vale Country Club, River Vale, New
Jersey. $175 includes lunch, dinner, golf and contests. Come out and
enjoy a great
day and support the church. For information contact Mark,
201-483-3200.

October 10National Association of Ladies Guilds (NALG)
annual conference at the Prelacy offices in New York City. Details
will follow.

Web pages of the parishes can be accessed through the Prelacys web
site.

To ensure the timely arrival of Crossroads in your electronic mailbox,
add [email protected] (mailto:[email protected]) to
your address book.

Items in Crossroads can be reproduced without permission. Please
credit Crossroads as the
source.

Parishes of the Eastern Prelacy are invited to send information about
their major events to be
included in the calendar. Send to: [email protected]
(mailto:info@armenianprel acy.org)

http://www.armprelacy.org/
http://e2ma.net/go/2147608432/1959295/72545597/2
http://www.armenianprelacy.org/datev.htm
http://e2ma.net/go/2147608432/1959295/72545590/2
http://www.armenianprelacy.org/linkedin0
http://e2ma.net/go/2147608432/1959295/72545595/2
http://www.armenianorthodoxchurch.org/v0
http://e2ma.net/go/2147608432/1959295/72545590/2
http://www.armenianprelacy.org/linkedin0
http://e2ma.net/go/2147608432/1959295/72545593/2
http://www.armenianprelacy.org/2009Adult
http://e2ma.net/go/2147608432/1959295/72545592/2
http://www.armenianprelacy.org/2009Adult
http://e2ma.net/go/2147608432/1959295/72545591/2
http://www.armenianprelacy.org/DBR2009-6
http://e2ma.net/go/2147608432/1959295/72545590/2
http://www.armenianprelacy.org/linkedin0

Attended By RA Prime Minister Tigran Sargsyan, The "One Nation, One

ATTENDED BY RA PRIME MINISTER TIGRAN SARGSYAN, THE "ONE NATION, ONE CULTURE" FUND’S BOARD OF TRUSTEES MET IN THE OFFICE OF GOVERNMENT

M onday, 22 June 2009

During the meeting, the Prime Minister noted the important role
of the Fund in the implementation of cultural programs, especially
through sustained cooperation with Diaspora and attraction of creative
capacity..

RA Minister of Diaspora Hranush Hakobyan was elected as Council Chair.

The meeting heard the Executive Director’s performance report for the
year 2008 and discussed the programs and actions to be implemented
in 2009.

http://www.gov.am/en/news/item/4739/

Greek, Armenian Contingents Transfer Of Authority

GREEK, ARMENIAN CONTINGENTS TRANSFER OF AUTHORITY

US State News
June 23, 2009 Tuesday 8:17 PM EST

BRUSSELS, Belgium, June 23 — NATO Kosovo Force issued the following
news release:

In the evening of 16 June 2009, the hand over/take over ceremony for
Greek and Armenian contingents in Multinational Task Force East (MNTF
E) took place in the Camp Rigas Fereros. The ceremony was attended
by MNTF E Commander Brigadier General Keith D. Jones, some of senior
national representatives and national contingent commanders of KFOR
troop contributing nations, and local authorities. Having appealed to
all attendees, MNTF E Commander General Jones in his speech thanked
outgoing soldiers of Greek and Armenian contingents for excellent
service during the mission. He also expressed an expectation;
soldiers of the incoming 525th Greek mechanized infantry battalion
would be a worthy replacement for their predecessors. For recognizing
his service, outgoing Greek contingent Commander Lieutenant Colonel
Spiros Touzopoulous was awarded a California National Guard medal
of merit. The flag of incoming 525th Greek mechanized infantry
battalion was hailed and his commander Lieutenant Colonel Dimitrios
Boudouris assumed authority for Camp Rigas Fereros and his force
area of responsibility. After the ceremony everyone was invited to
the Greek multifunctional building, where they had an opportunity
to partake in Greek hospitality, enjoy traditional Greek meals and
drinks, and to speak to each other in laid-back atmosphere.

Armenia Greatly Interested In Establishment Of Peace And Stability I

ARMENIA GREATLY INTERESTED IN ESTABLISHMENT OF PEACE AND STABILITY IN NEAR EAST REGION

Noyan Tapan
22.06.2009

A wide range of issues regarding development of bilateral relations
in various spheres, cooperation at international organizations
were discussed at the June 21 meeting of RA Foreign Minister Edward
Nalbandian and Foreign Minister of United Arab Emirates Abdallah bin
Zayed al Nahayan. It was mutually stressed that there is a high level
of political dialogue between the two states, a serious potential of
expansion of cultural cooperation.

E. Nalbandian said that Armenia being near to the a Near East region
in the geopolitical respect, is greatly interested in establishment
of peace and stability there.

The sides exchanged thoughts over issues of providing and strengthening
security in the South Caucasus and Near East.

RA and UAE Foreign Ministers’ meeting was followed by a ceremony of
signing documents: the Foreign Ministers signed an agreement between
the RA government and UAE government on donation of a land plot for
the purpose of founding a diplomatic representation, as well as a
memorandum on mutual understanding between the RA government and
UAE government on freeing people having a diplomatic passport of the
demand of having an entrance visa.

Hranush Hakobyan Elected Chairperson Of "One Nation, One Culture" Fo

HRANUSH HAKOBYAN ELECTED CHAIRPERSON OF "ONE NATION, ONE CULTURE" FOUNDATION

/PanARMENIAN.Net/
22.06.2009 20:44 GMT+04:00

/PanARMENIAN.Net/ Minister of Diaspora Affairs Hranush Hakobyan was
elected the chairperson of the board of trustees of "One Nation,
One Culture" foundation.

Armenian Prime Minster Tigran Sargsyan, who also attended the meeting,
stressed the importance of implementation of cultural programs and
cooperation with Diaspora.

The foundation’s executive director presented the report on the
programs implemented in 2008 and briefed on projects and events
planned for 2009.

Statement by Assemblyman Krekorian on Iranian Demonstrations

PRESS RELEASE
Office of Assemblymember Paul Krekorian
620 N. Brand Blvd. Suite 403
Glendale, CA 91203

June 22, 2009
Contact: Jeremy Oberstein (818) 558-3043

Statement by Assemblyman Krekorian on Iranian Demonstrations
43rd Assembly District home to large contingent of Iranian descendents

SACRAMENTO – Statement by Assistant Majority Leader Paul Krekorian
(D-Burbank) on the widespread unrest in Iran, as opposition to the
disputed June 12 election continues to mount and violence against
Democratic activists persists:
"As a representative of one of the state’s largest
Iranian-American communities, I am disgusted by the Iranian regime’s
violent crackdown on its citizens who are demanding democratic reform
and fair elections. My thoughts and prayers are with the hundreds of
thousands of Iranians risking their own safety to bring about
progressive change in their country.

"President Ahmadinejad is a disgrace to the Iranian
people. His regime has been a disaster and his continued occupancy of
the presidency only serves to delay Iran’s entry into the community of
nations and frustrate the legitimate ambitions of his people. The
apparent irregularities in his purported reelection must be fully
investigated.

"In the meantime, I stand in full support of those
courageous Iranians who are striving for freedom and real democracy in
their country, and with their family members here in California as we
collectively pray for a peaceful and positive conclusion to the unrest."

Assemblymember Paul Krekorian represents the cities of Burbank and
Glendale, and the Los Angeles communities of Atwater Village, Los Feliz,
North Hollywood, Silver Lake, Toluca Lake, Valley Glen, Valley Village
and Van Nuys. His website is Follow him
on Twitter <; (@PaulKrekorian) and
Facebook.

###

http://twitter.com/PaulKrekorian&gt
www.assembly.ca.gov/krekorian.

Foreign Ministers Of Armenia And Azerbaijan To Meet In Paris

FOREIGN MINISTERS OF ARMENIA AND AZERBAIJAN TO MEET IN PARIS

/PanARMENIAN.Net/
22.06.2009 15:33 GMT+04:00

/PanARMENIAN.Net/ Meeting of the foreign ministers of Armenia
and Azerbaijan will be held on June 26 in Paris, acting press
secretary of the RA ministry of foreign affairs Tigran Balayan
told a PanARMENIAN.net reporter. According to him, current state
of negotiations over Nagorno Karabakh conflict will be discussed at
the meeting.

Person Saying ‘Armenians Going To Bomb Maiden Tower’ Detained In Aze

PERSON SAYING ‘ARMENIANS GOING TO BOMB MAIDEN TOWER’ DETAINED IN AZERBAIJAN

ArmInfo
2009-06-22 17:22:00

ArmInfo. The Azeri mass media disseminated sensational information –
Baku police received information about the alleged plans of Armenians
to bomb the Maiden Tower on June 21. Day.az reports with reference
to the press service of the Interior Ministry of Azerbaijan that due
measures were taken and the information proved to be untrue. Notably,
it was found out during investigation that phone terrorist is Shamakhi
resident Vusal Khalilov.

Khalilov has already been detained. Investigation is underway.

Armenia’s GDP Reduces 15.7% To Amd 839.4 Billion In Jan-May 2009

ARMENIA’S GDP REDUCES 15.7% TO AMD 839.4 BILLION IN JAN-MAY 2009

ARKA
June 19, 2009

YEREVAN, June 19. /ARKA/. Armenia’s GDP has reduced 15.7% over the
period between January and May 2009, compared with the same period
of the previous year, National Statistical Service of Armenia reports.

According to the statistical report, Armenian GDP amounted to AMD
839.4 billion ($2437.8 million) at the mentioned period of this year.

The report says that May’s GDP is 15.6% greater than that of the
previous month.

Armenia recorded 9.8% economic growth in Jan-May 2008. In the state
budget, Armenia’s GDP is planned at 9.2%. ($1 = AMD 367.11).

ACBA-Credit Agricole Bank Head: Armenian Banks Face No Threat Of Col

ACBA-CREDIT AGRICOLE BANK HEAD: ARMENIAN BANKS FACE NO THREAT OF COLLAPSE

ARKA
June 17, 2009

YEREVAN, June 17. /ARKA/. Stepan Gishyan, general executive director
of ACBA-Credit Agricole Bank, finds collapse of Armenian banks very
unlikely.

In his interview with ARKA News Agency, he said that the country’s
banks are "in far better state than many of their counterparts
in Europe".

In his opinion, Armenian banking system is stable and has no liquidity
problems.

"The global crisis brought no deficit liquidity to the country. We
have plenty of liquidity instead, and we don’t know what to do with
the money there is solvent demand shortage is seen in the real sector",
Gishyan said.

Commenting on non-standard and doubtful credits that have grown from
1% to 7% in banks’ credit portfolios over the first quarter of 2009,
the banker said that it doesn’t show their insolvency, since it is
possible to make up losses later this year.

However, Gishyan admits that things worsened now, compared with the
previous year, because of the crisis.

He thinks banks should merge to build up their competitiveness.

But he is opposed to compulsory mergers.

Gishyan welcomes voluntary merger. In his words, nobody intends to
force banks.

World experience shows that market points out the necessity of merger,
he said.

"Time will come soon for the same things here", Gishya n said.

"Small banks in Armenia will merge to survive."

ACBA-Credit Agricole Bank (former Agricultural Cooperative Bank of
Armenia) was established in 1995 and registered on March 29, 1996.

The bank was established as part of RU TACIS program.

Key shareholders are French Credit Agricole S.A. (16%), French "SACAM
International" (2.44%) and agricultural cooperative unions in Armenia’s
provinces.