PRESS RELEASE
On the meetings of the Governor of the Bank of Albania, Mr. Ardian Fullani, during the 33-rd Economic Conference, held in Vienna on May 12-13, 2005

On May 12-13, 2005, the 33-rd Economic Conference was held in Vienna, Austria, with the subject "Monetary Policy and Financial Stability", where the Governor of the Bank of Albania, Mr. Ardian Fullani was invited to participate. During his stay in Vienna, Mr. Fullani organized numerous meetings with senior representatives of financial Austrian institutions.

During these meetings, the Governor of the Bank of Albania, Mr. Fullani acquainted the interlocutors with recent developments in Albanian economy and in the financial sector of the country.

The Governor Fullani, at his meeting with the Governor of the National Bank of Austria, Mr. Klaus Liebscher, expressed his thanks for the excellent relations, evaluated the historical and traditional links, and the fruitful cooperation with the Central Bank of Austria. The Governor Liebscher expressed the willingness to assist the Bank of Albania in improving the payment system and the largely use of credit cards as means of payment in view of cash reduction in economy, the Issuing Department of the Bank of Albania on cash management, regulations, procedures, etc. Also, there was discussed on international importance of Financial Sector Assessment Program (FSAP) from International Monetary Fund, which is being considered as a passport of the country in international markets.

During the meting with the Federal Minister of Finance of Austria, Mr. Karl-Hainz Grasser, there was discussed about the economic developments, increase of trading exchanges between two countries, urging of exports and Austrian investments to Albania and Albanian ones to Austria, creation of mutual facilities, such as the avoidance of double taxing, etc.

At the meeting with the Member of the Executive Board of Control Bank AG of Austria, Mr. Johannes Attems, they discussed, interalia, the possibility that under the current situation, Albania may be financed by Austria with soft loans on various projects in economy sectors, such as Agriculture, transport, services and tourism.

There was also discussed on the current situation of Albanian economy and the macroeconomic stability and traditional links and prospects for further development. In this context, the Governor of the Bank of Albania, Mr. Ardian Fullani requested from Control Bank AG to raise the level of "Platfond" for Albania, which currently is 1 million euro and has to do with the limit of the guarantee provided to Austrian investors and exporters operating in Albania.

At the meeting with the Executive Director of Supervisory Authority of Financial Market in Austria, Mr. Heinrich Traumuller, there was discussed on the developments of the banking and financial sector, the work done by the Bank of Albania for their development and consolidation, cooperation with regional banks in banking supervision area, bilateral cooperation and the possibility of providing technical assistance through sending a group of consultants to the Bank of Albania. Also, of interest was to principally agree on joint cooperation and supervision of the Raiffeissen Bank in Albania.

Also, the Governor Fullani held meetings even with the Governor of the Central Bank of Spain, Mr. Jaime Caruana, with the Executive Director of the National Bank of Austria, Mr. Josef Christl, and with the Deputy Governor of the National Bank of Austria, Mr. Wolfgang Duchatczek, who, together with the Executive Director of the Supervisory Authority of Financial Market in Austria, Mr. Heinrich Traumuller, will pay a visit to the Bank of Albania during the current year.