"BONDS OF “VALLETTA" LTD (I ISSUE)
Type of bonds Registered coupon bonds
Volume of issue AMD 350,000,000
Face value AMD 50,000
Amount 7,000
Maturity period 18 months (bonds repaid on 02.02.2009)
Yield 10.5% annual
Collateral Guarantee from shareholder of the company
Henrik Zakharyants
Coupon payment With periodicity of 6 months
(31.01.2008, 31.07.2008 ¨ 02.02.2009)
Organizer and lead manager "ARMSWISSBANK" CJSC
Regulated market Armenian Stock Exchange, Bbond level



* In case of discrepancies between the published Armenian and English language information, the Armenian information prevails.