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JSC Bank of Georgia (BGEO)

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Wednesday 03 December, 2008

JSC Bank of Georgia

JSC Bank of Georgia becomes exclusive partner o...

JSC Bank of Georgia becomes exclusive partner of American Express for Credit Card Acquiring and Issuing in Georgia

Bank of Georgia

JSC Bank of Georgia (LSE:BGEO) (the “Bank”), Georgia’s leading universal bank announced today that it has signed an agreement to become exclusive partner of American Express for Credit Card Acquiring and Issuing business in Georgia.

Through this exclusive partnership with American Express, the Bank expects to strengthen its position as the leading retail bank in Georgia by expanding its current range of retail products and further increasing its penetration into mass affluent retail market.

“I am delighted that American Express has chosen Bank of Georgia as its exclusive acquiring and issuing partner in Georgia. We view this partnership as another milestone in our retail strategy aimed at bringing value to our retail clients. I am looking forward to working with American Express on launching the Acquiring and Issuing businesses in 2009”, commented Nicholas Enukidze, Chairman of 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% market share by total assets (all data according to the NBG as of 30 September, 2008). The bank has 140 branches and over 904,000 retail and more than 133,000 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 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:

Standard & Poor’s   ‘B/B’
FitchRatings ‘B/B’
Moody’s ‘B3/NP’ (FC) & ‘Ba1/NP’ (LC),

For further information, please visit or contact:

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

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.