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ÿÿARTSAKH DEVELOPMENT

             AGENCYÿÿ SNCO


             1. Registration date - 24.05.2005
             2. Sphere of Activity - Elaboration of economic development programs
             3. Services aimed at export
                ·  Realization of economic development programs.
                ·  Realization of export and investment projects.
                ·  Financial assistance in the sphere of small and middle business.  Company Address                   Products & Services
                ·  Organization of exhibition forums and fairs.
                ·  Assistance and support to entrepreneurs for establishing economic relations in  Armenia, Stepanakert, Vazgen Sargsyan 25
                   business circles of abroad.                               Tel.: (374 471) 4.18.61, 5.06.11
                ·  Assistance in realization of investment programs.         E-mail: zag@ktsurf.net
                ·  Spreading of business information and advertisements with the aim of spurring export  Contact person: Mr. Armen Avagyan
                   and investment.
                ·  Rendering necessary consulting, information and other services to entrepreneurs.

             ÿÿAMERIAÿÿ CJSC


             1. Registration date - 13.04.1998
             2. Sphere of Activity
                a) Management Advisory Services – Risk management and assessment; Mergers, acqui-                     Consulting services
                   sitions, divestitures, joint ventures, and strategic alliances; Strategic development, busi-
                   ness planning, forecasting and feasibility studies; Due diligence; Industrial consulting and
                   needs assessment; Sector studies and industry analysis; Market research and evalua-
                   tion; Research and evaluation of a company’s market position in Armenia and abroad,  Company Address
                   comparative analyses of markets and products; Management reviews and organization
                   structure; Management Information System and data processing; Human Resource man-  Armenia, Yerevan, Baghramyan ave. 6/2
                   agement; Operational plans and project management; Business process reengineering,  Tel.: (374 10) 52.40.40
                   operations review, supply chain management; Implementation - restructuring, arrange-  Tel./Fax: (374 10) 54.68.00
                   ment of credit facilities; Information technology systems planning, selection and imple-  E-mail: ameria@ameria.am
                   mentation; Public administration                          Web-site: www.ameria.am
                b) Financial Advisory Services – Corporate finance; Financial analysis, planning and  Contact person: Mr. Andrew Mkrtchyan
                   performance monitoring; Financial engineering and company evaluations; Financial and
                   operational due diligence; Financial and cost management; Cost calculations and pricing;
                   Debt and equity financing projects; Enterprise rehabilitation plans; Project finance
                c) Audit and Assurance – Full or limited scope audit procedures for companies and organizations in Armenia; Set-up of accounting systems; Maintaining
                   accounting records and developing accounting policies; Advisory services on the implications of differences in accounting principles and reporting
                   requirements; Conversion of enterprise accounting system in the scope of Enterprise Accounting Reform; Internal control reviews; Accounting due diligence;
                   Accounting assistance; Payroll compliance services; Regulatory compliance evaluation; Reports on compliance with contractual obligations; Consulting on
                   taxation and tax planning; International structuring and tax planning for inbound foreign investments in Armenia; Tax audit; Enterprise Risk Management
                d) Legal Advisory Services – Business, corporate and civil law; Registration and liquidation procedures of legal entities in Armenia; Registration and
                   liquidation procedures of foreign entities for Armenian and foreign clients; Licenses, certifications, real estate and employment issues; Drafting,
                   preparation and review of contracts, legal documents, warrants and authorizations; Legal support in banking, insurance, customs issues; Legal due
                   diligence; Legal support in mergers and acquisitions; Legal support in public issues; Legal project Management; Consultancy on civil, corporate and
                   international law; Consultancy on investment and customs legislation; Transaction and investment structuring; Advice on currency regulation;
                   Consultancy on tax legislation
                e) Investment Banking – Investment profiles and loan applications; Privatization and post-privatization support; Post acquisition integration and support;
                   Capital markets assistance; Project co-financing pools and venture capital financing; Fund raising and investment strategy development; Due diligence
                   services; Investment brokerage in major financial / stock markets; Corporate governance consulting; Consultancy on investment and customs
                   legislation; Transaction and investment structuring; Capital raising and investor search
             3. Product(s)/Service(s) aimed at export
                a) Management Advisory Service  c) Audit and Assurance  e) Investment  Banking
                b) Financial Advisory Services  d) Legal  Advisory  Services
             ÿÿBLAZEÿÿ LTD


             1. Registration date - 25.06.1997
             2. Sphere of Activity
                Business consulting



                                                                             Company Address
                                                                             Armenia, Lori Marz, Vanadzor city,
                                                                             str. Tigran Mets 47, dpt. 4
                                                                             Tel.: (374 322) 2.32.66
                                                                             Tel./Fax: (374 322 ) 2.32.66
                                                                             E-mail: blaze@freenet.am
                                                                             Contact person: Mr. Koryun Shekoyan



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