Hayastan All-Armenian Fund
Governmental Buiding 3, Yerevan, RA
Contact: Hasmik Grigoryan
Tel: +(3741) 56 01 06 ext. 105
Fax: +(3741) 52 15 05
E-mail: [email protected]

11 February, 2011

Hayastan All-Armenian Fund Armenia Fund U.S. Region Affiliate Welcomes
Khoren Bandazian as New Chairman

Yerevan, February 11, 2011 - After eight distinguished years of dedicated
service as Secretary of the Board of Directors of Armenia Fund USA, Khoren
Bandazian, a highly respected member of the Armenian-American community and
experienced corporate and real-estate attorney, assumed the position of
Chairman of the Board. Mr. Bandazian succeeds Raffi Festekjian of Boston,
MA, who served as chairman since 2006. Mr. Festekjian was instrumental in
bringing a contemporary vision to Armenia Fund and reaching out to a new
generation of board members and supporters.

Mr. Bandazian brings a wealth of executive experience gained in his
professional life as well as the many other Armenian organizations and
causes with which he has associated himself since he was a young adult. He
has served on various committees organized by the Armenian Diocese and the
Armenian Prelacy, such as the 1700th Anniversary of Christianity in Armenia
committee, to name but a few. He has also served on the board of Sts.
Vartanantz Armenian Apostolic Church of Ridgefield, NJ. In 2007, Mr.
Bandazian chaired Armenia Fund USA's 15th anniversary gala at the United
Nations, which raised over $2,000,000 in support of the organization's

"Over the years, many eyes have been on Khoren as one of our community's
most promising up-and-coming leaders of the next generation. Now, in the
prime of his life, he has accepted to take on this added and serious
responsibility using his multi-faceted skill set. We couldn't be more
proud," says Kevork Toroyan, who served as Chairman of Armenia Fund USA from
2002 to 2006.

Mr. Bandazian is one of the longest-serving Armenia Fund USA board members.
His history with the organization offers a keen understanding of Armenia
Fund's mission as he leads the organization into new efforts to improve the
social and economic conditions in Armenia and Karabakh through
infrastructure and other development projects.

"Mr. Bandazian's chairmanship is of great importance to the US Eastern
Region affiliate of the Hayastan All-Armenian Fund. Our Fund is proactive",
states Ara Vardanyan, executive director of Hayastan All-Armenian Fund --
"we get involved and do what we can for both our motherland and the
organization. When the time comes, some of us step up and assume leadership
roles while educating the next generation on why and how they can serve. I
am pleased to see that Mr. Bandazian, a long-time member of Armenia Fund
USA, has stepped into one such role. I am confident that under his
guidance, Armenia Fund USA will continue to flourish, attracting active
members and expanding our support base. We wish him all the best."

"Armenia Fund is not a static organization. Although our mission remains the
same, we are constantly mindful that the Republic of Armenia is a very
different place than when our organization was formed in the early years of
its national independence," states Irina Lazarian, executive director of
Armenia Fund USA since 2004 and also with the organization for over 10
years. "As the Armenian homeland evolves, our approaches to lingering
socio-economic challenges, such as rural poverty in Armenia and Karabakh,
must be adaptive and flexible. Khoren has demonstrated many times over that
along with his analytical and thoughtful approach to understanding the
problems, he can be just as creative and open to the best ideas to help
solve them."

As chairman, Mr. Bandazian will oversee all activities of Armenia Fund USA.
In addition, he will coordinate efforts with the heads of the 20 other
Armenia Fund affiliates worldwide, as well as the Hayastan All Armenia Fund,
headquartered in Yerevan, Armenia.

"Khoren Bandazian represents the very best of our contemporary
Armenian-American community leaders," states Kharen Musaelian, a fellow
board member. "Raised and educated in the United States and fully
assimilated into the mainstream culture, Khoren has somehow managed to keep
his ancestral Armenian identity equally strong. This is clearly reflected
in his ability to understand and relate to a diverse Armenian community and
to genuinely value the contributions of those from different backgrounds and

Mr. Bandazian currently is a partner at Carella, Byrne, Cecchi, Olstein,
Brody and Agnello, a general practice law firm with 40 attorneys where he
specializes in corporate and real estate matters. He began his law career at
the general practice law firm of Winne, Banta, Hetherington, Basralian &
Kahn in New Jersey.

"I am honored to step into the leadership of Armenia Fund USA, following in
the footsteps of our prior leaders Berj Setrakian, Hagop Kouyoumdjian,
Kevork Toroyan and Raffi Festekjian," stated Mr. Bandazian on the occasion
of his election to Chairman. "These prior chairmen, especially Hagop
Kouyoumdjian, demonstrated commitment to this organization that will be
difficult to match. I look forward to bringing my experience and skills to
bear on one of the most important missions we have as a people-the
reconstruction and redevelopment of our Homeland. Every effort to help our
developing nation should be undertaken by our Diaspora. Armenia Fund
provides a unique vehicle for these efforts by consolidating our resources
and channeling them towards growth of Armenia and Karabakh."

Mr. Bandazian also pointed out that, "Armenia Fund is the most comprehensive
organization dedicated to redevelopment efforts in Armenia and Karabakh.
It is also the most universal of any other Armenian organization. Armenia
Fund crosses religious and political lines to unite our efforts for that
with which we can all agree - the rebuilding of Armenia and Karabakh.
Trustees of the Hayastan All-Armenian Fund include both Holy Sees and
representatives from most all major Diasporan organizations. It is truly a
national and collaborative effort that we can be proud of as Armenians. I
hope to continue this spirit during my tenure and strengthen our
reconstruction efforts."

From: A. Papazian