MAVLON INVEST LTD was officially reported to have sold its 20.00029% share in GRAN Bank’s authorized capital to a Cyprus-based REKHA HOLDINGS LIMITED.

MAVLON INVEST LTD, an offshore company, announced that it had bought a 19.693% share in GRAN Bank from Conversbank on June 14, 2007.

This information was revealed in compliance with the regulation that an issuer/a joint stock investment fund must promptly reveal any information that can influence its stock price.