Director/PDMR Shareholding

Bank of Georgia
                  

    NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING MANAGERIAL
                       RESPONSIBILTY OR CONNECTED PERSONS

In connection with the operation of the Joint Stock Company Bank of Georgia (the
'Bank') Executive Equity Compensation Plan (the 'Plan'), the Bank hereby
announces in accordance with DTR3.1.2R and DTR3.1.4R(1)(a) that a total of
172,000 nil-cost options for ordinary shares of the Bank in the form of global
depositary receipts ('GDRs') have been awarded to certain members of the
Supervisory Board and Management Board as well as to certain other employees of
the Bank for the performance in respect of the financial year ended 31 December
2007, under the rules of the Plan. Each GDR represents one ordinary share.

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

The following Supervisory Board and Management Board Members, determined to be
'Persons Discharging Managerial Responsibilities' ('PDMR'), were awarded a total
of 105,000 nil-cost options for shares in the form of GDRs by the Trustee. The
Trustee recommended that the above awards vest in three tranches: (i) the first
tranche will vest on 1 January 2009; (ii) the second tranche will vest on 1
January 2010; and (iii) the third tranche will vest on 1 January 2011.

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      Name                 Position             1st       2nd        3rd
                                               Tranche   Tranche    Tranche
----------------- --------------------------- -------- ---------- ----------

Nicholas Enukidze Chairman of the Supervisory
                             Board               9,000      9,000      9,000
 Irakli Gilauri     Chief Executive Officer      9,000      9,000      9,000
Irakli Burdiladze   Deputy Chief Executive
                            Officer              5,666      5,666      5,668
 Ramaz Kukuladze    Deputy Chief Executive
                            Officer              5,666      5,666      5,668
 Sulkhan Gvalia     Deputy Chief Executive
                            Officer              5,666      5,666      5,668
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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 made upon the
grant, vesting or exercise of an option award.

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 33.7% market share by total assets (all data according to the NBG
as of March 31, 2008). The major component of the Galt & Taggart Index, the bank
has 131 branches and over 770,000 retail and more than 120,000 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.

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

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Standard &       'B+/B'                                Stable
 Poor's
FitchRatings     'B+/B'                                Stable
Moody's          'B3/NP' (FC) & 'Ba1/NP' (LC)
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For further information, please visit www.bog.ge/ir or contact:

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