Yerevan, December 18 /Mediamax/. “ARARATBANK” announced today its DPO (direct public offering).

Mediamax reports that during the presentation, which took place today, the Director of the dealing center of “ARARATBANK” David Harutiunian informed that the issue and the placement of shares will be realized by means of direct subscription.

The face value of ordinary nominal shares of “ARARATBANK” makes 5000 drams, the cost of placement of shares - 5900 drams. The overall volume of placement will make 450mln 170 thousand drams. The minimal quantity of the placed shares will make 70 000, the maximum quantity – 76 300.

The process of placement started on December 17 and will continue up to January 21 of 2008.

The investments in the shares of the bank may be realized by residents/non-residents, individuals and legal entities.

According to the Executive Director of “ARARATBANK” Ashot Osipian, the issue and the placement of shares will be of continuous nature. In particular, in 2008, the bank plans to organize three placements of shares.

According to the assessment of the Deputy Chairman of the Central Bank of Armenia Artur Dzhavadian, “ARARATBANK” occupies a special place in the financial market of the country, constantly offering new financial instruments.

He singled out a few “unprecedented” indices, which “ARARATBANK” registered this year. In particular, the assets of the bank grew for 170%, the commitments - for 345%, the capital – for 20%. The growth of attracted deposits made 360%, and the volume of economy crediting increased for 70%.