Holding(s) in Company

The following announcement is made in accordance with DTR 5

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

Bank of Georgia Holdings plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

X

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

consolidation of indirect holdings for disclosure purposes

3. Full name of person(s) subject to thenotification obligation: iii

Peter Elam Håkansson  

4. Full name of shareholder(s)  (if different from 3.):iv

East Capital Russian Fund, East Capital Eastern European Fund, East Capital (Lux) Russian Fund, East Capital (Lux) Eastern European Fund and Sakaropel Limited and East Capital Financials Fund AB

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

12 March 2013 (Transaction date)

6. Date on which issuer notified:

12 March 2013

7. Threshold(s) that is/are crossed orreached: vi, vii

15%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

GB00B759CR16

5 684 969

5 684 969

1 997 661

5.56%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

1 997 661

5.56%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi

Peter Elam Håkansson is the ultimate controlling shareholder of the East Capital group and will henceforth make the notifications for all entities and funds within the group.

East Capital Russian Fund (3.04% votes)

East Capital Eastern European Fund (0.52% votes)

East Capital (Lux) Russian Fund (0.53% votes)

East Capital (Lux) Eastern European Fund (0,11% votes)

Sakaropel Ltd (1.37% votes)

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will ceaseto hold:

12. Date on which proxy holder will cease to holdvoting rights:

13. Additional information:

East Capital Financials Fund AB has sold all of its shares in the company and decreased its ownership from 10.17% to 0%.

14. Contact name:

Nina Jonsson

15. Contact telephone number:

+46 8 505 88 657