Financial Results - First six months of 2012

Georgian Railway JSC (formerly Georgian Railway LLC), Georgia's integrated railway company, announces its financial results for the six months period ended 30 June 2012.

Revenue for the first six months of 2012 was GEL 225.1 million, representing an increase of 0.5% over the equivalent period in the year 2011.

Adjusted EBITDA for the six months period ended 30 June 2012 increased by 5.6% to GEL 124.6 million compared with the Adjusted EBITDA of GEL 118.1 million for the six months period ended 30 June 2011. Adjusted EBITDA Margin reached 55.4%.

Full Financial Statements are available at the company's website: http://railway.ge/files/audit/2012/2012q2.pdf