On December 11, 2008, in Marriot-Armenia Hotel, Converse Bank CJSC presented and announced the issue and allocation of its first tranche nominal, medium-term coupon bonds.

The nominal volume of the first tranche bonds is AMD 300.000.000 (three hundred million), maturity period - 3 years, annual earnings yield - 10,64%. The bond coupons will be repaid quarterly.

Ararat Ghukasyan, "Converse Bank" CJSC Executive Director, emphasized the issue of the bonds and bank's entry in the share market as completion of the bank services universal pack. "There is no precedent of an offer program for a bonds issue in the banking sector of the Republic, moreover of a 3-year maturity period", Mr. Ghukasyan said.

The total nominal volume of issued bonds is AMD 1.500.000.000 (one billion and five hundred million), in numbers of 50.000 (fifty thousand), each in AMD 30.000 (thirty thousand) nominal value. Issue of bonds will be installed through several tranches.

All tranches of bonds issued will be circulated at the Armenian Stock Exchange. "Capital Asset Management" is the underwriter of "Converse Bank" CJSC bonds allocation.

The Bonds Prospectus was registered at the Central Bank of Armenia on December 01, 2008.