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JSC Bank of Georgia (BGEO)

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Tuesday 01 April, 2008

JSC Bank of Georgia

JSC Bank of Georgia Announces New High Profile ...

Bank of Georgia
                  

JSC Bank of Georgia (LSE: BGEO GSE: GEB), the leading Georgian universal bank,
announced today several additions to its management team in Ukraine.

Grigol Katamadze was appointed as a Director of International Business
Development of Bank of Georgia focusing on Ukraine. Prior to this appointment
Mr. Katamadze served for seven years as Georgia's Ambassador to Ukraine. Before
this, he held various senior positions at the Ministry of Foreign Affairs,
Ministry of Defense and Ministry of Interior of Georgia.

Ekaterina Kvantrishvili re-joined Bank of Georgia Group as Head of Retail
Banking at Universal Bank for Development and Partnership ('UBDP'), Ukrainian
bank 98.8% owned by Bank of Georgia. From July through September Ekaterina has
led Bank of Georgia's retail banking efforts in Georgia. Prior to joining UBDP
Ekaterina was in charge of Business Development at Investrustbank, Russia.

Tornike Gogichaishvili was appointed as Chief Financial Officer of UBDP. Prior
to UBDP, Tornike served as CFO (2003-2004) and then CEO of Aldagi BCI
(2006-2007), Georgia's largest insurance company wholly- owned by Bank of
Georgia. From 2004 through 2005 Tornike served as a CFO of United Energy
Distribution Company of Georgia on a secondment from PA Consulting Group.

Giorgi Vakhtangishvili was appointed as Deputy CFO of Bank of Georgia
responsible for Ukraine with primary focus on audit and reporting for Bank of
Georgia's operations in Ukraine. Prior to this appointment Giorgi worked for
four years in the audit department of Ernst & Young LLC in Tbilisi and Kyiv.

'The appointment of such high caliber individuals will significantly strengthen
our Ukrainian team and marks important new step on the path of integration of
UBDP into Bank of Georgia Group', commented Nicholas Enukidze, 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 35% market share by total assets (all data according to the NBG as
of 31 December 2007). The major component of the Galt & Taggart Index, the bank
has 127 branches and over 740,000 retail and more than 65,000 corporate current
accounts. The bank offers a full range of retail banking, corporate and
investment banking and asset & wealth management services. The bank also
provides a wide range of corporate and retail insurance products through its
wholly-owned subsidiary Aldagi BCI.

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

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*T
Standard & Poor's   'B+/B'                         Stable
Moody's             'B3/NP' (FC) & 'Ba1/NP' (LC)   Stable
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
Chairman of the Supervisory Board   Chief Executive Officer      Head of Investor
                                                                  Relations
+995 32 444 105                     +995 32 444 102              +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 management's current expectations and
are subject to uncertainty and changes in circumstances.