Update on Current Strong Financial Perfomance

Bank of Georgia Holdings plc. (“BGH”) (LSE: BGEO LN), the holding company of JSC Bank of Georgia (the “Bank”), Georgia’s leading bank, announced today that during the first five months of 2012, the Bank has continued to deliver strong financial performance throughout the business. In April and May 2012, the Bank has built on the performance trends delivered in the first quarter of the year and, in particular, has continued to substantially reduce its cost of deposits leading to an increased net interest margin, which is currently running over the 8% level.

Operating costs continue to be well controlled and impairments are currently trending at similar levels to those in the first quarter of 2012. As a result, the Bank believes that it will deliver an earnings performance for 2012 above our previous expectations.