Armex Reorganized Into Public Corporation

[Vasilian Manouk]

ARMEX REORGANIZED INTO PUBLIC CORPORATION

ARKA
Nov 9, 2007

YEREVAN, November 9. /ARKA/. The Armenian Stock Exchange (ARMEX)
self-regulating organization has been reorganized into public
corporation.

ARMEX members made such a decision during a special meeting on November
9, 2007.

By the RA law on the Securities Market Regulation, creditors of
a self-regulating organization have a right to demand from ARMEX
additional guarantees for the fulfillment of obligations, discharge
or early release, as well as compensation seven days after the
notification.

A self-regulating organization, ARMEX was established on the basis
of 21 brokerage companies and was registered by the RA Securities
Commission on February 13, 2001. The organization has been organizing
exchange trade in securities and foreign currency since July 6, 2001.

The CBA (Central Bank of Armenia) and the leading Scandinavian expert
in exchange industry OMX signed a memorandum on the purchase of ARMEX
and the Central Depositary. The transaction will probably be conducted
this November.