Holding(s) in Company

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

East Capital Financials Fund AB

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

As per the above

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

Acceptance notice was given on 2 February 2012. The offering was made unconditional and the BGH shares admitted to trading on 28 February, 2012.

6. Date on which issuer notified:

29 February 2012

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

Above 9%

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

0

0

3,485,308

9.71%

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

3,485,308

9.71%

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

East Capital Financials Fund AB owns all BGH shares through its 100% owned subsidiary East Capital Financial Institutions II AB.

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:

No change in actual holding, the notification is triggered by the listing and the offering from the issuer (BGH) to all shareholders in Bank of Georgia.

14. Contact name:

Liene Rimša

15. Contact telephone number:

+46 8 505 97 729