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DUTCH DIRECTOR LEAVES HAYPOST AND ARMENIA

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In the aftermath of two violent attacks in Yerevan on the General-Director of HayPost C.J.S.C. Mr. Hans Boon left Armenia on 15 October 2008. The first attack took place on 10 July 2008, a few days before the Eurnekian Group was given the ownership of the Trust Management. The second attack happened exactly 3 months later, on 10 October 2008. Though Mr. Boon managed to survive those 2 attacks, he was injured and lost his consciousness after the second attack. The transfer of the Trust management was a follow up on the progress meetings in September 2007 with the Government. Four months after the transfer of the Trust management in July 2008 to the Eurnekian Group it is clear that the Eurnekian Group deviates from the original program and its vision and concepts. Especially the Post bank concept deviates significantly from the Dutch business plan technically approved by Central Bank in August 2007. Under the Dutch management strong improvements have been realized in the performance of HayPost. Within 2 years mail delivery quality improved from 14% to more than 96% in Yerevan, mail volumes grew from 1 million to 10 million per year; many new post offices with trained staff and new technology were opened. The Dutch complete their presence before 30 November 2008 with a report to the Government and recommendations promoting that HayPost further develops into an ICT-based public access infrastructure for basic services, financial, postal, government, etc.