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JSC Bank of Georgia (BGEO)

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Friday 04 April, 2008

JSC Bank of Georgia

Director/PDMR Shareholding

Bank of Georgia
                  

                      Grant of Options to PDMR Shareholders

Joint Stock Company Bank of Georgia ('the Bank') hereby announces in accordance
with DTR3.1.2R and DTR3.1.4R(1)(a) that Mr. Nicholas Enukidze, Chairman of the
Supervisory Board of the Bank, and Mr. Irakli Gilauri, Chief Executive Officer
of the Bank, have been granted nil-cost option awards (each, an 'Award') for a
maximum of 34,990 and 33,149 ordinary shares of the Bank, respectively, in the
form of global depositary receipts ('GDRs') under the rules of the Bank's
Executive Equity Compensation Plan (the 'Plan'). The Awards constitute annual
grants in respect of 2008 and each GDR awarded represents one ordinary share of
the Bank. Both Mr. Nicholas Enukidze and Mr. Gilauri accepted their respective
grants and the terms governing such grants on 2 April 2008. The Awards will vest
on 1 January 2011 (the 'Vesting Date').

The exact number of GDRs that shall become available under the Awards on the
Vesting Date (which shall not exceed 34,990 and 33,149 GDRs per Award) shall be
calculated by reference to the total shareholder return of the Bank compared
with a basket of its peers (as identified by the Supervisory Board Compensation
Committee) over the three-year period beginning 1 January 2008 and ending on the
Vesting Date.

The Awards may be exercised at any time during the 10-year period after the
Vesting Date. Under the rules of the Plan, no payment is due upon the grant,
vesting or exercise of the Awards.

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

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:

-0-
*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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*T
Nicholas Enukidze                   Irakli Gilauri               Macca Ekizashvili
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.