"ARMROSGASPROM" EXTENDS DEADLINE OF PREPAYMENT ACTION TILL FEB 1 2009

ARKA
Dec 2, 2008

YEREVAN, December 2. /ARKA/. "ArmRosgasprom" company is extending the
deadline of its Prepayment action till February 1 2009. The company
made this decision upon request of numerous subscribers, the press
service of the company reported.

The terms of the extension are as follows: citizens who will submit a
gas installation application by February 1 2009 and will pay 80% of the
amount that is set under the contract and is required for construction
and assemblage will have 40,000Drams worth prepayment remitted then.

"ArmRosgasprom" closed joint stock company was founded in 1997.

"Gasprom" open joint stock company and Armenian Ministry of Energy had
45% of the shares each with the remaining 10% belonging to "Itera". In
the scope of three planned investment stages of the project (after
purchase of additional shares of ArmRosgasprom in 2006 and 2008)
the share of "Gasprom" company in the authorized stock has increased
to 75.55%. The share of the Armenian Government is 20% and that of
"Itera" 4.44%. (1$=305.31Drams).