IN CASE HE IS ELECTED, EX-PRESIDENT OF ARMENIA PLANS TO RECONSIDER THE BANKING LEGISLATION

Mediamax
January 7, 2008

Yerevan /Mediamax/. In case he is elected for the position of the
President, Ex-President of Armenia Levon Ter-Petrosian intends to
reconsider the banking legislation.

Mediamax reports that Levon Ter-Petrosian's pre-election program,
titled "Pre-election program or quiet thoughts", reads this.

The Ex-President, in particular, proposes to "extend the authorities
of the Board of the Central Bank at the expense of the unequal
authorities of the Chairman of the Board, mitigate the requirements
for registration of new banks, stimulate the activity of investment
funds, the Stock Exchange and credit registrations".