YEREVAN, September 27, /ARKA/. The Armenian Development Bank (ADB) said it has reduced the cost of acquisition of MasterCard Gold Chip and MasterCard Standard Chip international plastic cards.

A press release by the bank said the special offer is effective from September 22 to December 22, 2010. The annual servicing charge for MasterCard Gold Chip plastic card acquired during the special offer time is lowered to 15,000 Drams, down from previous 35,000 Drams. The minimum required amount on the card is brought from 40,000 Drams to 20,000 Drams. The annual servicing charge for holders of

MasterCard Standard Chip is lowered to 3,000 Drams form 8,000 with no minium amount on card requirement.

The Armenian Development Bank is owned by Ruben Hayrapetian (20%), Araik Mekhakian (16.95%) and Grigor Termenjian 16,03%.. ($1- 362.25 Drams). -0-