Management Target for 2010 Summary

A move to classical two-tier board structure Supervisory Board ⚫ 7 non-executive SB members; non-executive Chairman . Management Board Chief Executive Officer and 8 Deputies . SB members Nicholas Enukidze, Chairman experience: MD at Concorde, Ukrainian investment bank; ABN AMRO Corporate finance in Moscow and London, Global One Communications, VA. USA • Ian Hague, Firebird Management LLC Allan Hirst, Independent Director experience: 25 years at Citibank, including CEO of Citibank, Russia; various senior capacities at Citibank ⚫ Kaha Kiknavelidze, Independent Director currently managing partner of Rioni Capital, London based investment fund; previously Executive Director of Oil and Gas research team for UBS Jyrki Talvitie, East Capital David Morrison, Independent Director experience: senior partner at Sullivan & Cromwell LLP prior to retirement Al Breach, Advisor to SB, to replace Irakli Gilauri as SB member subject to the next AGM experience: Head of Research, Strategist & Economist at UBS: Russia and CIS economist at Goldman Sachs MB members . . • · . . Irakli Gilauri, CEO; formerly EBRD banker in Tbilisi and London, MS from CASS Business School, London Giorgi Chiladze, Finance; formerly CEO of BTA Bank (Georgia); Program Trading Desk at Bear Sterns, NYC Archil Gachechiladze, Corporate Banking; formerly Deputy CEO of TBC Bank, Georgia; Lehman Brothers Private Equity, London; MBA from Cornell University Avto Namicheishvili, Legal; previously partner at Begiashvili &Co, law firm in Georgia. LLM from CEU, Hungary Irakli Burdiladze, COO; previously CFO at GMT Group, Georgian real estate developer. Masters degree from Johns Hopkins University Sulkhan Gvalia, Risk; founder of TUB, Georgian bank acquired by BOG in 2004 Murtaz Kikoria, acting CEO of BG Bank; formerly senior banker at EBRD; Head of Banking Supervision at the National Bank of Georgia. Mikheil Gomarteli, Retail Banking; 10 years work experience at BOG Nick Shurgaia, International Business; previously CEO of VTB Georgia, Senior Banker at EBRD, London; MBA from LBS Vasil Revishvili, Head of Wealth Management; previously Head of the Investment Risk Unit and Senior Investment Manager at Pictet Asset Management in London and Geneva. MS in Finance from London Business School LOCAL SEO BANK OF GEORGIA www.bog.ge/ir Page 26 May 2010 Page 26

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