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1. JSC KAZBEGI FINISHED YEAR 2008 WITH LOSSES OF 6.2M LARI
   (Daily News: July 24, 2009)

   JSC Kazbegi (beer and soft drinks) reports that the company finished the year 2008 with losses of 6.2 million lari. The company fixed profit of 153,917 lari in 2007.

2. LOSS OF BASISBANK MADE UP 612,803 LARI IN Q2
   (Daily News: July 21, 2009)

   According to Basisbank report, the bank has loss of 612,803 lari in the 2^nd quarter, i.e. by 85.6% less than in the 1^st quarter.

   The bank’s total assets made up 103.6 million lari, in comparison with the 1^st quarter growth made up 5.2%.

3. SUPERVISORY FUNCTION RETURNS TO NBG
   (Daily News: June 25, 2009)

   Fiscal committee of the Georgian Parliament discussed today draft amendments to the organic law “On the National Bank of Georgia”, which strengthen supervision functions of the National Bank of Georgia (NBG).

   The mentioned draft, worked out jointly by the fiscal committee and NBG, was presented by NBG president Giorgi Kadagidze.

4. ZURAB GURGENIDZE, MAGTI DEPUTY DIRECTOR GENERAL: “METROMEDIA’S POSSIBLE BANKRUPTCY WILL NOT IMPACT ON MAGTI”
   (Daily News: June 19, 2009)

   Zurab Gurgenidze, deputy director general of mobile communications operator Magti, is sure that possible bankruptcy of Metromedia International Group (MIG) will not impact on Magti activity. MIG filed for bankruptcy to the US court yesterday.

5. LLC BEDIA DELAYED PURCHASING OF LAND PLOT FOR SOYA PLANTING
   (Daily News: June 17, 2009)

   Zurab Papava, director of LLC Bedia, told Sarke that the company delayed purchasing of land plot in Abasha (Samegrelo region). It was planned to plant soya, needed for mayonnaise production, however, according to Papava, the company failed to attract credit of 200,000 lari.

6. LLC UNIGRAIN GEORGIAN GROUP TO EXPAND GRAIN TERMINAL
   (Daily News: June 10, 2009)

   LLC Unigrain Georgian Group plans to extend grain terminal until the end of year. Zurab Daraselia, deputy director of the company, told Sarke that as a result the terminal will be able to serve Kazakh wheat transit as well.

7. SAKHALKHO BANKI FINISHED YEAR 2008 WITH LOSSES OF 48.16M LARI
   (Daily News: May 27, 2009)

   Sakhalkho Banki (People’s Bank) reported losses of 48.16 million lari in the year 2008, which make up 22% of Georgia’s banking totals. The bank fixed profit of 10.64 million lari in 2007.

8. Rezonansi: “PREMIER’S TEAM “WORKS” ON LARI ANNULMENT”
   (Economic Press Monitor: May 22, 2009)

   Nona Karalashvili, adviser to the Prime Minister, said that investors should be given a possibility to make investments in US dollars and euro in order to avoid risk of exchange loss. She does not exclude that lari may be withdrawn from circulation in the course of time.

9. Rezonansi: “MYTHS AND REALITY OF VITICULTURE”
   (Economic Press Monitor: May 20, 2009)

   Thousands of peasants in Kakheti (main winemaking region of Georgia) have not received the payment for harvest of 2008 yet. Wine-makers also suffer problems: they cannot sell the production.

10. ACTUAL TOPIC: POTATO IMPORT BAN
    (Daily News: May 15, 2009)

    Georgia has imposed ban on potato import for 3 months (from April 14 to July 14). Sarke offers you commentary on the subject, made by Zurab Lipartia, head of department in National Service for Food Safety, Veterinary and Plants’ Protection.

11. MAGTI EASES MAGTI-FIX TERMS
    (Daily News: May 13, 2009)

    Mobile communications operator Magti announced that new terms of Magti-Fix service (wireless fixed telephone of CDMA standard) entered into force from May 1.

    Namely, outcoming call will not be switched off until the balance is over, while incoming calls will not be switched off during a year after the last payment.

12. LOSSES OF BASISBANK AMOUNTED TO 4.26M LARI IN Q1
    (Daily News: May 7, 2009)

    Basisbank reported loss of 4.26 million lari in the 1^st quarter. To remind, the bank fixed profit of 1.51 million lari in the same period of 2008.

13. JSC TBILGVINO EXPECTS FOR 5% EXPORT REDUCTION IN 2009
    (Daily News: May 6, 2009)

    As JSC Tbilgvino (Tbilisi Wine) told Sarke, volume of export is expected to reduce by 5% in 2009. Export accounts for 90% of company’s production.

14. AUDIT COMPANY TMC BECAME THE MEMBER OF BDO INTERNATIONAL
    (Daily News: May 5, 2009)

    Georgian audit and consulting company Tbilisi Managers and Consultants (TMC) reports that the company became the member of BDO International from April 1. Accordingly, it was renamed into LLC BDO Georgia.

15. MAGTI EXPECTS FOR PROLONGING OF GSM-1800 LICENSE
    (Daily News: May 4, 2009)

    Mobile communications operator Magti reported that its GSM-1800 license will be expired on May 12.

    By this date, the company expects for decision of National Communications Commission, application to which was submitted, according to the law, a month ago.

16. JSC AMALTHEA SPENT 805,613 LARI FOR RE-EQUIPMENT LAST YEAR
    (Daily News: April 27, 2009)

    According to annual report of JSC Amalthea, company’s re-equipment and reconstruction was finished last year, because of which production was stopped for 2 years. The company spent 805,613 lari for re-equipment.

17. BLITZ-SURVEY: GEORGIAN BUSINESS AT THE BACKGROUND OF CURRENT POLITICAL ACTIONS
    (Daily News: April 27, 2009)

    The next blitz-survey, held by Sarke among local companies, showed that the greatest part of top managers talk about reduction of sales and worsening of business development at the background of ongoing protest actions.

    The following companies were surveyed: Populi (supermarkets’ chain), Zarapkhana (jewelry factory), Tbilgvino (Tbilisi Wine), trade center GTC, Sante (dairy producer), Aversi (drugstores’ chain), Elit Electronics (household appliances’ distributor).

18. Rezonansi: “CURRENT BUDGET DOOMED TO FAILURE?!”
    (Economic Press Monitor: April 14, 2009)

    Budget highlights are gradually declining, the newspaper says. Experts believe that implementation of budget target will be quite difficult this year.

19. Rezonansi: “MYTHS AND LEGENDS ON INVESTMENT TOPIC”
    (Economic Press Monitor: April 2, 2009)

    The governmental team considers that April 9 (when the opposition plans to hold a protest action) is the key risk really threatening to Georgian economic. Foreign businessmen, namely the head of International Chamber of Commerce in Georgia Fady Asly, share this view and call the opposition to engage in dialogue.

20. Rezonansi: “FINANCIAL AMNESTY – INSTEAD OF TALKING”
    (Economic Press Monitor: March 31, 2009)

    Issue of financial amnesty has become topical for politicians and businessmen again, the newspaper says. While experts are skeptical.

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