Valery Golubov Head Of Board Of Directors Of "ArmRosGasProm"

VALERY GOLUBEV HEAD Of BOARD OF DIRECTORS OF "ARMROSGASPROM"

ARKA News Agency, Armenia
July 9 2007

YEREVAN, July 9. /ARKA/. Vice-Chairman of Executive Committee of
"Gasprom" OJSC Russian energy holding Valery Golubev was elected
to the post of Chairman of Directors’ Board of "ArmRosgasprom"
Armenian-Russian CJSC.

The Armenian Minister of Energy Armen Movsisian was elected as
Vice-Chairman of Directors’ Board of "ArmRosgasprom" CJSC, the Press
Service of the Armenian-Russian company reported.

"ArmRosgasprom" CJSC enjoys the monopoly of supply and distribution of
Russian natural gas on the domestic market of Armenia. The company was
founded in 1997. Its capital currently makes $398.8mln. The company’s
shareholders are "Gasprom" OJSC (57.59%), Armenia’s Ministry of Energy
(34.7%) and "Itera" oil and gas company (7.1%).