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JSC Bank of Georgia (BGEO)

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Friday 01 February, 2008

JSC Bank of Georgia

Notice of EGM

Bank of Georgia
                  

           TO THE ATTENTION OF THE SHAREHOLDERS OF JSC BANK OF GEORGIA

The Extraordinary General Meeting (the 'EGM') of the shareholders of JSC Bank of
Georgia is scheduled to be held on 22 February 2008, at 14:00 o'clock. The
agenda of the meeting is as follows:

1. On changes in the Supervisory Board membership

2. Approval of compensation for the Supervisory Board member

3. On changes in the membership of the Audit Committee of the bank and approval
of compensation for Audit Committee member

4. On changes in the Charter of JSC Bank of Georgia

The Management Board and the Supervisory Board of JSC Bank of Georgia announce
the following recommendations to the shareholders on the issues included in the
agenda of the EGM to be held on 22 February 2008:

With respect to the first item of the agenda:

1. Approve the resignation of Mr. Vladimer Gurgenidze from the Supervisory Board
membership

2. To approve the election of Mr. Kaha Kiknavelidze to the Supervisory Board of
JSC Bank of Georgia

With respect to second item of the agenda:

1. Approve the compensation of the newly elected member of the Supervisory Board
Mr. Kaha Kiknavelidze at the amount recommended by the Supervisory Board

With respect to the third item of the agenda:

1. Approve the resignation of Mr. Irakli Rekhviashvili from the membership of
the Audit Committee of JSC Bank of Georgia

2. Approve the election of Mr. Murtaz Kikoria to the Audit Committee of JSC Bank
of Georgia

3. Approve the compensation of the newly elected member of Audit Committee at
the terms recommended by the Supervisory Board and the Management Board of JSC
Bank of Georgia

With respect to the fourth item of the agenda:

1. To amend the Charter of JSC Bank of Georgia pursuant to the laws of Georgia
and instructions of the National Bank of Georgia.

2. The revised Charter of JSC Bank of Georgia with a note explaining the
proposed changes is available at the bank's head office at the Investor
Relations Department or at the bank's website: www.bog.ge/ir

3. The shareholders of the bank will be able to submit written proposals or
comments (or receive clarifications) with regards to the revised version of the
Charter to the Investor Relations Department at the head office of JSC Bank of
Georgia until February 12, 2008. Such proposals or comments, if any, shall be
discussed at the EGM

The EGM will be held at Sheraton Metechi Palace Hotel, Conference Room Salkhino,
20 Telavi Street, Tbilisi, 0103, Georgia

The registration of shareholders will start on 22 February 2008 at 13:00
o'clock.

The record date of the EGM is 23 January 2008.

The rights of the shareholders to participate in the meeting may be checked from
12 February 2008 with the share registrar of JSC Bank of Georgia - JSC
Kavkasreestri, at 74a Chavchavadze Avenue, Tbilisi

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 35.4% market share by total assets (all data according to the NBG
as of December 31, 2007). The major component of the Galt & Taggart Index, the
bank has 117 branches and over 705,000 retail and more than 64,000 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:

-0-
*T
Standard & Poor's 'B+/B'                                Stable
Moody's           'B3/NP' (FC) & 'Ba1/NP' (LC)          Stable
FitchRatings      'B+/B'                                Stable
*T

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

-0-
*T
Nicholas Enukidze                              Irakli Gilauri                   Macca Ekizashvili
Acting Chairman of the Supervisory Board       Chief Executive Officer          Head of Investor Relations
+995 32 444 103                                +995 32 444 109                  +995 32 444 256
nenukidze@bog.ge                               igilauri@bog.ge                  ir@bog.ge
*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. 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.