Director/PDMR Shareholding

Bank of Georgia
                  

                      GRANT OF OPTIONS TO PDMR SHAREHOLDERS

Joint Stock Company Bank of Georgia (the 'Bank') hereby announces in accordance
with DTR3.1.2R and DTR3.1.4R(1)(a) that Mr. Nicholas Enukidze, currently the
Acting Chairman of the Supervisory Board of the Bank, and Mr. Irakli Gilauri,
Chief Executive Officer of the Bank, have each been granted nil-cost option
awards (each, an 'Award') for a maximum of 29,259 ordinary shares of the Bank in
the form of global depositary receipts ('GDRs') under the rules of the Bank's
Executive Equity Compensation Plan (the 'Plan'). Each GDR represents one
ordinary share of the Bank. Both Mr. Nicholas Enukidze and Mr. Irakli Gilauri
accepted their respective grants and the terms governing such grants on 20
December 2007. The Awards will vest on 1 January 2010 (the 'Vesting Date').

The exact number of GDRs that shall become available under the Awards on the
Vesting Date (which shall not exceed 29,259 GDRs per Award) shall be calculated
by reference to the total shareholder return of the Bank compared with a basket
of its peers (as identified by the Supervisory Board Compensation Committee)
over the three-year period beginning 1 January 2007 and ending on the Vesting
Date.

The vested options may be exercised at any time during the 10-year period after
the Vesting Date. Under the rules of the Plan, no payment is due upon the grant,
vesting or exercise of the Awards.

A similar Award for the maximum of 35,111 GDRs and Grant Date of 1 January 2007
was granted under the Plan to Mr. Lado Gurgenidze, in his former capacity as
Chairman of the Supervisory Board of the Bank, prior to his resignation as the
Chairman of the Supervisory Board.

The Plan, which was established on 6 November 2006, is implemented through a
Jersey trust administered by Abacus Corporate Trustee Limited (the 'Trustee').

This news report is presented for general informational purposes only and should
not be construed as an offer to sell or the solicitation of an offer to buy any
securities. Certain statements in this news report are forward-looking
statements and, as such, are based on the managements current expectations and
are subject to uncertainty and changes in circumstances.

Bank of Georgia has, as of the date hereof, the following credit ratings:

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  Standard &        'B+/B'                     Stable
   Poor's
  Moody's           'B3/NP' (FC) & 'Ba1/P-3'   Stable
                     (LC)
  Fitch Ratings     'B/B'                      Stable
*T

For further information, please visit www.bog.ge/ir or contact:

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 Nicholas Enukidze                  Irakli Gilauri               Macca Ekizashvili
Acting Chairman of the Supervisory  Chief Executive Officer      Head of Investor
 Board                                                            Relations
[phone]                     [phone]              [phone]
[e-mail]            [e-mail]              [e-mail]
*T

This news report is presented for general informational purposes only and should
not be construed as an offer to sell or the solicitation of an offer to buy any
securities.

About Bank of Georgia

Bank of Georgia, the leading universal Georgian bank with operations in Georgia
and Ukraine, is the largest bank by assets, loans, deposits and equity in
Georgia, with 34% market share by total assets (all data according to the NBG as
of September 30 2007). The major component of the Galt & Taggart Index, the bank
has 109 branches and over 595,000 retail and more than 60,000 corporate current
accounts. The bank offers a full range of retail banking and corporate and
investment banking services to its customers across Georgia. The bank also
provides a wide range of corporate and retail insurance products through its
wholly-owned subsidiary, Aldagi BCI, as well as asset & wealth management
services.