NEW YORK, NY - A virtually worldwide all-day telethon on Thanksgiving Day raised only $2.5 million for the building of Phase One of the 120-kilometer North-South Highway in Karabagh.

This figure was quite frustrating for the organizers of the telethon. They had made arrangements for viewers in different parts of the world to view the telethon and participate in the fundraiser.

The $2.5 million figure includes the $350,000 contribution that Mrs. Louise Manoogian Simone had made prior to the telethon. Taking out the cost of the telethon and other related expenses, a mere $1,500,000 was netted. The indifference of the Armenians regarding the fundraiser is attributed to negative reports emanating from Armenia, including accounts of widespread corruption.

The fundraiser was sponsored by "Hayastan" All-Armenian Fund. The organizer had made every effort to separate funds from those administered by government agencies, insisting that there were all types of control over funds raised to ensure that monies raised through the telethon would be used exclusively for the road building project.

Armenian Fund - West Coast is expected to issue a formal statement regarding the Thanksgiving Day Fundraiser.