Q3 2009 Results Overview

Labo Immediate Priorities - Internationally Belarus (Belarusky Narodny Bank - BNB): Inject EUR 10.5 mln in order to meet new minimum regulatory capital requirement of EUR 25 mln from 1st of January 2010 We also see new capital requirement as opportunity to acquire small bank(s), which can not meet new minimum capital requirement in Belarus to leverage up BNB and gain synergies We are also in discussion with IFIs as potential equity partners (and lenders), with BoG to maintain majority stake Lending to high margin, unattended SME sector, interest rates on SME lending vary between 18% to 22% in US$ Target 1% population of Belarus (c. 100,000) through novel Premier Banking offerings Ukraine (BG Bank): Focus on further downscaling retail business and stepping up trade finance, integrating wealth management business with brokerage. Number of branches has been decreased from 38 Q1 2008 to 18 branches by Q3 2009 and headcount reduced from 824 to 617 Leverage on Georgian corporate banking and brokerage to build trade finance business in Ukraine to capture part of the US$ 1.0 bln trade between Georgian and Ukraine and nearly US$ 4 bln trade between Belarus and Ukraine Focus on loan recovery. Loan loss reserves amounts to GEL 50 mln or 27% of gross loan book of BG Bank BANK OF GEORGIA www.bog.ge/ir Page 38 January 2010 Page 38

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