Investor Presentaiton

Selected macro economic data Quarterly net remittances US$ mln 300 250- 200- 184 150- 100- 50 236 225 273 146 176 216 228 202 182 0 Q1 2008 Q2 2008 Q3 2008 Q4 2008 Q1 2009. Q2 2009 Q3 2009 Q4 2009 Q1 2010 Q2 2010 CPI Highlights Q2 2010 Net remittances increased by 14.6% y-o-y GDP real growth rate: 7-7.5% y-o-y Q2 2010F; 4.5% 2010F; growth mainly driven by donor money inflows and credit growth in1H 2010 VAT collection up by 20%+ y-o-y in recent months, 1H 2010 trade turnover up by 18% y-o-y to GEL 2.9 bln 1H 2010 Exports up by 40% 1H 2010 Imports up by 13% NBG reserves still on high level at around USD 2 bln, exceeding M2 by 1.5 times Quarterly tax revenue by categories GEL mln 12% 11.0% 1200 1,123 1,130 10% 10.0% 9.2% 9.2% 8.8% 8.2% 8%- 81 1,000 65 1000 116 105 44 100 188 192 800 171 6.2% 6%- 5.8% 5.5% 600 259 275 252 3.7% 4% 400 3.0% 2.8% 2.2% 1.7% 475 497 200 433 2% 0 0% 2005 2006 2007 2008 2009 Mar-10 Jun-10 Q1 2008 CPI (e-o-p) ■CPI (average) VAT PIT Q1 2009 ■ СІТ Q1 2010 Excise Other Source: National Statistics Office of Georgia, Government of Georgia Labkon BANK OF GEORGIA www.bog.ge/ir September 2010 Page 5

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