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ANALYST ARMENIA'S COMMERCIAL BANKS IMPROVE THEIR TECHNOLOGICAL BASIS OUSTING OR PEACEFUL CO-EXISTENCE? CLOSURE OF HSBC BAKU BRANCH - YET ANOTHER BLOW ON AZERBAIJAN'S SHATTERED REPUTATION AS "NEW MARKET WITH EXCELLENT FUTURE" ARMECONOMBANK, ARMENIAN DEVELOPMENT BANK AND "HSBC ARMENIA" BANK DECLARED GOVERNMENT'S BEST AGENTS ON STATE INTERNAL DEBT MANAGEMENT IN 2001, "INECO" AND AGRICULTURAL COOPERATIVE BANK OF ARMENIA BEST DEALERS IN STB MARKET PRICE LEVEL FLUCTUATIONS EXPECTED WITHIN 3%: TIGRAN SARGSSIAN "BANK ANELIK" BECOMES SERIOUS COMPETITOR FOR WESTERN UNION AND MONEYGRAM "ARDSHINBANK" HAS NO PROBLEMS WITH FULFILLING COMMITMENTS CB INTERVENTION ON INTERBANK MARKET HAMMERS DEMAND FOR USD ON CURRENCY RETAIL MARKET

THE BACK SIDE OF THE MOON The interview given to ARMINFO by Harutiun Mesrobyan "ONE CAN NOT ONLY WORK IN KARABAKH BUT ALSO WORK SUCCESSFULLY" The interview given to ARMINFO by Chairman of the Board of the Artsakhbank closed jsc Kamo Nersissyan CASCADE CAPITAL GEORGIAN TAKEOVER The interview given to ARMINFO by Jonathan Stark heads the holding Cascade Capital CREDITS ALLOCATED BY USDA TOTAL $31.5MLN. The exclusive interview to ARMINFO Marketing Assistance Program Director Craig Infanger INFLATION: OBVIOUS AND INCREDIBLE Below is an interview of critic of the country's economic authorities, one of the informal authors of the above parliamentary hearings, well-known economist Eduard Agajanov to the ARMINFO news agency CB RA REMOVES NOT VIABLE BANKS FROM THE MARKET:TIGRAN SARKISSIAN Below is an interview of President of the Central Bank of the Republic of Armenia Tigran Sarkissian to the ARMINFO news agency CAFESJIAN SAID: "HERE IS THE MONEY - GO AND MAKE BUSINESS" The interview given to ARMINFO by Jonathan Stark heads the holding Cascade Capital UNLIKE OUR COLLEAGUES IN AZERBAIJAN, WE WORK IN A DIFFERENT REGIME IN ARMENIA: CHARLES GREGORY Below is an interview of Chief Executive Officer of the "HSBC Bank Armenia" CJSC Charles B. Gregory

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