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JSC Bank of Georgia (BGEO)

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Wednesday 19 December, 2007

JSC Bank of Georgia

JSC Bank Of Georgia Receives The Bank Of The Ye...

Bank of Georgia
                  Bank of Georgia (LSE: BGEO; GSE: GEB), the leading Georgian universal bank,
announced today that it has received 'The Bank of the Year 2007' Award by The
Banker, the publication of the Financial Times Business Ltd, a member of The
Financial Times group companies. The award, introduced in 2000, is given to the
leading commercial and investment banks worldwide in recognition of their

'I am delighted that Bank of Georgia has won the Bank of the Year Award for the
second consecutive year. This prestigious award, as well as the Euromoney Award
For Excellence as the Best Bank in Georgia 2007, reflects Bank of Georgia's
continued success and achievements this year', commented Nicholas Enukidze,
Acting Chairman of the Supervisory Board of Bank of Georgia.

About Bank of Georgia

Bank of Georgia, a 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 30 September 2007). The major component of Galt & Taggart Index, the bank has
109 branches and over 595,000 retail and 60,000 corporate current accounts as at
30 September 2007. 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

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

Standard &       'B+/B'                  Stable
Moody's          'B3/NP' (FC) & Ba1/P-3  Stable
Fitch Ratings    'B+/B'                  Stable

For further information, please visit or contact:

Nicholas Enukidze              Irakli Gilauri      Macca Ekizashvili
Acting Chairman of the         Chief Executive     Head of Investor
 Supervisory Board              Officer             Relations
+995 32 444 800                +995 32 444 109     +995 32 444 256

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 management's current expectations and
are subject to uncertainty and changes in circumstances.