Holding(s) in Company

The following announcement is made in accordance to 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

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):

Acceptance of public offering from Bank of Georgia Holdings plc to exchange shares in Bank of Georgia for shares in Bank of Georgia Holdings plc.

X

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

Peter Elam Hakansson

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, East Capital Holding AB and East Capital Financials Fund AB

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

21 June 2012

6. Date on which issuer notified:

21 June 2012

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

18.35%

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

NA

NA

6,589,964

18.35%

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

6,589,964

18.35%

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

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

See annex: East Capital Ownership Structure.

East Capital Russian Fund (4.20% votes)

East Capital Eastern European Fund (0.67% votes)

East Capital (Lux) Russian Fund (0.69% votes)

Sakaropel Ltd (2.47% votes)

East Capital Holding AB (0.01% votes)

East Capital Financials Fund AB (10.17%)

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:

Most recent notification of holdings of GB00B759CR16 have been made by East Capital AB on behalf of East Capital Holding AB, Sakaropel Ltd, East Capital Russian Fund, East Capital Eastern European Fund, East Capital (Lux) Russian Fund, East Capital (Lux) Eastern European Fund and East Capital (Lux) Convergence Eastern European Fund on 28 February 2012 and by East Capital Financials Fund AB on 2 April 2012.

14. Contact name:

Nina Jonsson

15. Contact telephone number:

+46 8 505 88 657