According to those who adhere to the legend, King Solomon and the Queen of Sheba had a son named Menelik I, who eventually came to Jerusalem as a young man and spirited the real Ark of the Covenant away (with Solomon's blessing).
It is there, in that land which in ancient times has been called Aksum and is today known as Ethiopia, where the very Ark of the Covenant which contains the Ten Commandments that G-d gave to Moses is said to be kept in this chapel, with a lone guardian tending to it night and day for as long as he lives...
(According to some reports, the Ark guardians don't live anywhere near a full span of life and have a tendency to developing cataracts, supposedly a testament of the Ark's awesome power.)
The patriarch has said that a museum is being built in Ethiopia where the Ark will be displayed for all to see.
If it is the real Ark of the Covenant, let us hope that these guys know what they are doing, and have read the instruction manual (namely the Old Testament) really meticulously.
Or else, who knows what might happen...
UPDATE 06/26/2009 9:20 p.m. EST: As many have noted, the announced time of today's "revealing" of the Ark of the Covenant has more than come and gone, with nothing to show for it. There are some allegations coming out of Ethiopia that Abuna Pauolos has a shady background. Here's WorldNetDaily's report on the failure of the patriarch to produce the goods.