Donations of Securities to BAFA

We are pleased to inform you that in order to make your gifts in a more tax efficient way, BAFA has in place arrangements to also accept your donations of securities. As you may well know, by transferring such securities to BAFA, you will enjoy the deduction of the current, appreciated value of the securities, without the payment of any capital gains taxes on the increase in the value of the securities over your original cost basis.

A written request to your broker, or an endorsement of the relevant share certificates to BAFA, will transfer the shares, and establish the tax basis of your donation, based on the closing price on the date of the transfer.

Should you wish to do so, you could follow the "Procedures for Handling Donations of Securities" below or contact Mr. John Haleblian, BAFA Executive Director, at (408) 257-0799 for additional information. For anyone who has not availed himself of this procedure, we suggest you consult your tax accountant.

BAFA Board of Directors

PROCEDURES FOR HANDLING DONATIONS OF SECURITIES

To make donations to BAFA more tax efficient for our donors, the following account is available at the Charles Schwab office in Cupertino, CA:

Bay Area Friends of Armenia
A/C # 1423-8365
Charles Schwab
19960 Stevens Creek Blvd.
Cupertino, CA 95014

The following information will assist our donors to transfer securities:

1. Electronic transfer of securities held in brokerage accounts:

• If the donor has a Charles Schwab account, please request the branch where your account is maintained to effect the transfer of shares to the above noted BAFA account. Please clearly specify the name of the company, the number of shares you wish to donate, and the above BAFA account information, and mail or fax the instructions to your branch. For convenience, donors may wish to fill out a Schwab "Letter of Authorization" form, available at any Schwab office. To avoid delay, it is suggested to always note your telephone number under your signature, just in case the operations people have any questions about the instructions.
  
  
• If the donor maintains an account at any other brokerage company, in addition to the above instructions, please add the following statement: "Schwab's DTC routing number is 0164, and Code 40". Donors may also use their respective brokers' preprinted transfer forms for this purpose.

2. In case donors' securities are held in their own names and they hold the stock certificates, there are two options they can follow:

• If they have a brokerage account, they can take the certificate to their broker's office, fill out the reverse of the certificate and deposit their shares in their account. They then can follow the appropriate procedure under #1 above.
  
  
• They can also transfer any certificate directly by completing the reverse of the certificate in favor of Bay Area Friends of Armenia, and sign it to complete the endorsement of the shares in front of a bank officer. Their signature, however, needs to be guaranteed by a bank or brokerage officer. It is recommended to donors to go to their commercial bank, where they maintain an account, identify themselves with acceptable documentation (driver's license, passport, ATM card, etc.) and the bank officer will guarantee their signature.

Rev. August 1, 2001