“Georgian Railway” LLC is announcing expression of interests for parties interested in acquisition of 100% or less share of “Railway Telecom” LLC (The leading telecommunications company in Backbone operations, 100% owned by “Georgian Railway” LLC).

Interested parties should send their terms (indicating the price, currency, payment terms and any other terms) before January 31^st 2009 in a sealed envelope in Asset Management Agency of “Georgian Railway” LLC (15, Tamar Mepe Ave., Tbilisi , 0112, Georgia).

Information about the company is available in the data room at Georgian Railway (15, Tamar Mepe Ave., Tbilisi , 0112, Georgia). Parties willing to get additional information or conduct due diligence are welcome to use the information with the authorization of “Georgian Railway” LLC. The information is also available on the Investor Relations page of the “Railway Telecom” LLC web-site – www.grt.ge/ir.

This announcement of expression of interest is not an obligation of “Georgian Railway” LLC to sell or in any other way transfer “Railway Telecom” LLC or it’s share to any interested party. It also does not give the right to use the announcement against “Georgian Railway” LLC in any way. “Georgian Railway’ LLC has the right to terminate or change the procedure, exclude any interested party from the procedure or refuse any of the expressed interests without any liabilities of “Georgian Railway” LLC .

“Georgian Railway” LLC

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