For Immediate Release
October 9, 2008

ARMENIA FUND USA ART EXHIBIT DRAWS A NEW GENERATION OF PATRONS TO CONTEMPORARY ARMENIAN ART

NEW YORK, New York — Against a backdrop of Wall Street mayhem and global economic jitters, the New York art scene took on a new vitality for investors and art lovers alike. The 45 paintings and sculptures of “Generation Freedom: Armenia’s New Vanguard”—on display in a midtown Manhattan gallery setting managed by InterArt Gallery— were viewed by over 200 attendees including private viewings earlier in the day.

Raffi Festekjian, Chairman of Armenia Fund USA, organizer of this benefit exhibit, made note that “these artists are the top-tier in Armenia today and their work merits serious attention. This is a good time to invest in the art of these rising stars, whose works have been recognized not only in Armenia but also throughout Europe, Canada and the U.S.” He added that given the financial markets in turmoil, investing in art is an even more viable alternative.

Armenia Fund USA Executive Director, Irina Lazarian, went on to explain that a percentage of the proceeds from the sale of the works would translate into economic opportunity for hundreds of families in rural Armenia that stand to benefit from the Armenia Fund USA Rural Development Program launched in 2007. “When you buy the art,” said Ms. Lazarian, “you are helping to build a nation.”

Ms. Lazarian introduced three of the artists present—painters Garen Bedrossian and Gagik Ghazanachyan, and sculptor Garegin Davtyan. In addition were the works of five other artists: Khachik Abrahamyan, Ashot Avagyan, Marine Dilanyan; Albert Hakobyan and Lilit Soghomonyan.

All told, they created a widely diverse range of subjects, styles and perspectives, primarily based in the schools of Impressionism and Abstract Expressionism. Atypical of other Armenian art exhibits, there was little evidence of distinctively Armenian subjects and themes, suggesting that modern Armenian Art is evolving into culturally transcendent forms with mainstream appeal.

“These eight artists came of age at the dawn of Armenia’s new independence,” remarked Dr. Arthur Gregorian, Board Member of Armenia Fund USA who spearheaded the concept of the exhibit. “The show is intended to help us understand how this newfound freedom impacted their world view, their personal journey as artists and the cultural dynamics in Armenia today. That’s why it’s called Generation Freedom.”

A complimentary, 36-page, full-color exhibit Catalog, prepared by InterArt Gallery, was distributed prior to and during the show as well as on the Armenia Fund USA website. According to Ms. Lazarian, online and phone inquiries came in from all across the nation as well as Europe and Canada.

One painting purchased that evening was donated back to Armenia Fund USA for resale, in effect doubling its price and the value of proceeds going to the Armenia Fund USA Rural Development Program. A few remaining unsold works are on view online at www.armeniafundusa.org. For more information, contact Armenia Fund USA at info@armeniafundusa.org or call: 212-689-5307 or 1-866-446-6237.

ABOUT ARMENIA FUND USA: founded in 1992, was one of the first of Hayastan All-Armenian Fund’s 18 international affiliates and serves constituents in all states east of the Mississippi. As a non-profit, non-governmental, nonsectarian organization, the Fund represents all Armenian constituents. Armenia Fund USA is the largest contributor among the 18 international affiliates – supporting strategic infrastructure projects in Armenia and Karabakh. The Fund has adopted a policy to go “Beyond Bricks and Mortar” to provide sustainability for projects it sponsors.

To learn more about Armenia Fund USA, please visit our website at
www.ArmeniaFundUSA.org or call us at 212-689-5307.

Armenia Fund USA
80 Maiden Lane, Suite 301
New York, NY 10038