Expected Q4 2009 Financial Performance

Money boomed; now inflation is low and FX stable M0, M2, M3 (in US$), CPI inflation, % yoy 80% 60% 40% 20% 0% -20% M3 (in US$) M2 MO -40% Dec-99 Dec-00 Dec-01 CPI inflation Dec-02 Dec-03 Dec-04 FX rates:Nominal Lari/US$ & Real Effective 160 140 120 100 80 Dec-99 Source: National Bank of Georgia Lobko BANK OF GEORGIA. www.bog.ge/ir Dec-00 Dec-01 Dec-02 Dec-03 Real effective rate, Jan04-100 (LHS) Lari/US$ (RHS) + 1.2 1.4 1.6 1.8 2.0 2.2 2.4 Dec-04 January 2010 Page 13

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