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JSC Bank of Georgia (BGEO)

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Friday 30 May, 2008

JSC Bank of Georgia

JSC Bank of Georgia Announces the Launch of a N...

Bank of Georgia
                  

Bank of Georgia (LSE:BGEO)(GSE:GEB), the leading Georgian universal bank,
announced today that it has launched a new universal remote banking platform for
multiple communication channels - Internet, voice telephony and mobile, based on
the customized software developed for Bank of Georgia by ARBES, a software
provider based in Czech Republic.

The new platform enables Bank of Georgia's clients to remotely perform a wide
range of transactions, including transfers to and from the accounts in Georgia
and internationally, currency conversions, online payments, blocking and
unblocking of the cards, setting up the standing orders and direct debits as
well as other transactions. The users of the new remote banking platform will
also be able to apply for a loan, debit or credit card and even open a deposit
account through any of the above communications channels. The combination of
banking and communications technology into one package facilitates an easy and
convenient remote banking experience that is highly secured by means of onetime
codes generated by Digipass devices or requested via an SMS services, along with
the static authentication details such as username and password. Furthermore, a
brand domain of Bank of Georgia for web, PDA and WAP channels - ibank.ge is
signed and secured with SSL certificate, issued by Thawte Premium Server CA.

The mobile banking solution includes four different applications, including PDA,
WAP, Java and SMS banking, meeting the requirements for all generations of
mobile handsets.

'I am very pleased that we have launched Georgia's first ever universal remote
banking system, which marks an important step towards our goal of delivering a
high quality client service experience across all delivery channels. This
service is particularly important for our current and future non-resident
private banking clients. In addition, universal remote banking solution will
ease queues in our branches for daily banking purposes enabling our sales force
to focus on selling higher value added products and services in branches. Remote
banking is increasingly becoming an important part of our retail strategy with
the number of mobile phone users in Georgia exceeding two million and growing,
while retail internet market developing rapidly', noted Irakli Gilauri, Chief
Executive Officer.

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 33.7% market share by total assets (all data according to the NBG
as of March 31, 2008). The major component of the Galt & Taggart Index, the bank
has 131 branches and over 770,000 retail and more than 120,000 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
FitchRatings            'B+/B'                         Stable
Moody's                 'B3/NP' (FC) & 'Ba1/NP' (LC)
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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
Chairman of the Supervisory Board Chief Executive Officer           Head of Investor Relations
+995 32 444 800                   +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.