20/09/2012

Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in which such distribution would be unlawful.

Joint Stock Company Bank of Georgia

Stabilisation Notice

JPMorgan Securities Ltd (contact: Marc Lewell telephone: +44 207 134 2468 hereby gives notice that the Stabilising Manager(s) named below undertook stabilisation (within the meaning of the rules of the Financial Services Authority) in relation to the offer of the following securities, as set out below.

In connection with the offer of the above securities, the Stabilising Manager(s), or persons

acting on behalf of the Stabilising Manager(s) may over-allot the securities, provided that the

aggregate principal amount of the securities allotted does not exceed 105 percent of the

aggregate principal amount of the securities, or effect transactions with a view to supporting

the market price of the securities at a level higher than that which might otherwise prevail.

However, there is no assurance that the Stabilising Manager(s) or persons acting on behalf of

the Stabilisation Manager(s) will take any stabilisation action. Stabilisation action may begin

on or after the date on which adequate public disclosure of the final terms of the offer is made

and, if begun, may be ended at any time, but it must end no later than the earlier of 30 days

after the issue date of the securities and 60 days after the date of allotment of the securities.

This announcement is for information purposes only and does not constitute an invitation or

offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the

Issuer in any jurisdiction.

This announcement and the offer of the securities to which it relates are only addressed to and

directed at persons outside the United Kingdom and persons in the United Kingdom who have

professional experience in matters related to investments or who are high net worth persons

within article 12(5) of the Financial Services and Markets Act 2000 (Financial Promotion)

Order 2005 and must not be acted on or relied on by other persons in the United Kingdom.

In addition, if and to the extent that this announcement is communicated in, or the offer of the

securities to which it relates is made in, any EEA Member State that has implemented

Directive 2003/71/EC (together with any applicable implementing measures in any Member

State, the "Prospectus Directive") before the publication of a prospectus in relation to the

securities which has been approved by the competent authority in that Member State in

accordance with the Prospectus Directive (or which has been approved by a competent

authority in another Member State and notified to the competent authority in that Member

State in accordance with the Prospectus Directive), this announcement and the offer are only

addressed to and directed at persons in that Member State who are qualified investors within

the meaning of the Prospectus Directive (or who are other persons to whom the offer may

lawfully be addressed) and must not be acted on or relied on by other persons in that Member

State.

This announcement is not an offer of securities for sale into the United States. The securities

have not been, and will not be, registered under the United States Securities Act of 1933 and

may not be offered or sold in the United States absent registration or an exemption from

registration. There will be no public offer of securities in the United States. END.