GAZPROMBANK AND AREXIMBANK-GAZPROMBANK GROUP OFFER MONEY TRANSFERS BETWEEN ARMENIA AND RUSSIA WITHOUT ACCOUNT OPENING

/ARKA/
March 4, 2011
YEREVAN

YEREVAN, March 4, /ARKA/. Russian Gazprombank and its Armenia-based
affiliate Areximbank-Gazprombank Group have launched a new service
for their clients offering money transfers between the two countries
without account opening via their international MasterCard plastic
cards.

Areximbank-Gazprombank Group said today in a press release that the
advantage of this new service is that a client may make a swift and
safe remittance from Armenia to Russia and vice versa and receive the
money through Gazprombank's ATMs in Russia and Areximbank-Gazprombank's
ATMs in Armenia without having to visit a bank branch. Remittances
will be made in Russian rubles only. In Armenia they will be converted
to Drams.

In 2010 the overall amount of individual money transfers between
Russia and Armenia totaled 6.298 trillion Drams and the number of
transactions rose to 26, 188. The introduction of this new service
is expected to increase the volume of remittances between the two
countries in 2011 by 5-10%.

Areximbank-Gazprombank Group (formerly Areximbank) was established
in 1998 to handle financial flows between Armenia and Russia. It is a
principled member of VISA International and MasterCard International
payment systems. In 2007 it joined Armenian ArCa payment system. The
bank is owned fully by Russian Gazprombank.




From: A. Papazian