PRESS RELEASE
September 13, 2005

Ambassador Markarian Meets OPIC Executive

On September 13, 2005, Ambassador of Armenia to the U.S. Tatoul Markarian met with Executive Vice President and COO of the Overseas Private Investment Corporation (OPIC) Ross J. Connelly to discuss potential cooperation between OPIC and Armenia. OPIC's major investment project in Armenia to date has been the Marriott Armenia Hotel.

Ambassador Markarian stressed the need to work towards increasing U.S. investments in Armenia , and said he is looking forward to cooperation with OPIC towards this objective. The Ambassador described Armenia 's significant economic progress during the past decade, noting that the investment climate has also improved dramatically. The annual review by the Wall Street Journal/Heritage Foundation ranks Armenia very highly in terms of economic liberties. Mr. Conn elly expressed readiness to work together to further raise awareness of the existing OPIC programs and potential to promote U.S. investments in Armenia .