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JSC Bank of Georgia (BGEO)

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Thursday 10 January, 2008

JSC Bank of Georgia

Issue of Debt

Bank of Georgia
                  

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                                                                    Tbilisi, 10 January 2008
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             Bank of Georgia Receives A US$65 Million Loan Facility

JSC Bank of Georgia (LSE: BGEO, GSE: GEB) the leading Georgian universal bank,
announced today that it has placed a US$65 million senior loan facility arranged
and structured by Merrill Lynch International. The term of the facility is 13
months and can be extended to 24 and 36 months by mutual consent.

'I am delighted that we have started 2008 by continuing the build-up of our
capital base to further finance our growth. This transaction demonstrates that
despite difficult credit market conditions Bank of Georgia is able to attract
funding in international financial markets. I would like to congratulate our
funding team on a successful completion of this transaction,' commented Nicholas
Enukidze, Acting Chairman of the Supervisory Board.

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 33% market share by total assets (all data according to the NBG as
of 30 November 2007). The major component of the Galt & Taggart Index, the bank
has 116 branches and over 600,000 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.

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

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Standard & Poor's'B+/B'                    Stable
Moody's          'B3/NP' (FC) & 'Ba1/NP    Stable
                  (LC)
Fitch Ratings    'B+/B'                    Stable
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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    Thea Jokhadze
Acting Chairman of the       Chief Executive       Head of Investor     Head of Debt Capital
 Supervisory Board            Officer               Relations            Markets
+995 32 444 103              +995 32 444 109       +995 32 444 256      +995 32 444 192
nicholas.enukidze@bog.ge     igilauri@bog.ge       ir@bog.ge            tjokhadze@bog.g
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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. 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.