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JSC Bank of Georgia (BGEO)

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Friday 25 July, 2008

JSC Bank of Georgia

Bank of Georgia announces the Appointment of Gl...

Bank of Georgia
                  

   Bank of Georgia announces the Appointment of Global Head of Retail Banking

JSC Bank of Georgia (LSE:BGEO) (GSE:GEB), the leading Georgian universal bank,
announced today the appointment of Mr. Shahram Sharifi as Global Head of Retail
Banking.

Shahram Sharifi has over twenty five years experience in the area of retail
credit risk management with UK's leading retail banks. Prior to this appointment
Mr. Sharifi worked at Consumer Credit Development Limited, a retail credit risk
management consulting firm, based in Brighton, UK, which he set up after leaving
Lloyds TSB Group in April 2006.

Mr. Sharifi joined TSB bank's Retail Banking Division in 1988 and during 18 year
career with the bank he held various senior positions and was responsible, at
various stages, for the main consumer lending products. In addition, he also was
responsible for the development of some of the major retail credit risk
management re-engineering programmes within UK Retail Banking (UKRB) division.
These included the lead project management of the Cheque Account Performance
Scoring System and also the development of a brand wide Customer Decisioning
System to support the Customer Focus Programme.

Mr. Sharifi holds Master of Science Degree in Operations Research from Sussex
University and Master of Philosophy Degree in Statistical Forecasting from
Brighton University.

'I have been working with Bank of Georgia as a consultant for the last 12 months
and I had no hesitation to accept Bank of Georgia's offer to join the group on
permanent basis. In addition to the tremendous growth story, one of the most
compelling reasons to join the group is the camaraderie of the people that I
have worked with. After 25 years in Retail Banking in the UK, I can honestly say
that I have not been as excited as I am today to take on a new role,' noted
Shahram Sharifi, Global Head of Retail Banking.

'Shahram brings over two decades of retail banking experience and we look
forward to the accelerated development of our retail banking operations in
Ukraine and Belarus, as well as strengthening of our leading retail banking
franchise in Georgia under his leadership. I am very pleased to welcome Shahram
to our team,' commented Nicholas Enukidze, Chairman of the Supervisory Board.

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         Chief Executive Officer     Head of Investor Relations
 Supervisory Board
+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.