At 22:41 local time, on Tuesday, April 25, 2002, a moderate earthquake with magnitude M = 4.6 took place in the Tbilisi area. This was the strongest instrumentally recorded seismic event ever in this region, causing 7 deaths, making 2446 people homeless and causing 180 million US$ worth of damage. The Tbilisi earthquake was a strike-slip earthquake that took place on the NW-SE Tbilsi-Mtkvari fault that dips to the northeast. The focal mechanism and shape of the isoseismals confirm this. A year before the Tbilisi earthquake of 2002 a seismic risk was evaluated for the town. In particular, the distribution of social-economic damage in the territory of the town in case of single earthquakes with intensities 7 and 8, i.e. so called “scenario” earthquakes, was determined. Obtained schematic map of the direct economic loss on the territory of the town gives the distribution of the relative seismic risk in the territory of the town and shows well the most vulnerable parts of the town in case of an earthquake with intensity 7. Calculated for them, potential direct economic loss is of the same order as that received by risk calculations according to official data after the Tbilisi earthquake of 2002 (April 25). For comparison, according to calculations in case of an earthquake with intensity 8 direct economic loss from destruction and damage of buildings only could exceed milliard dollars in the territory of Tbilisi. At 11:44 local time, February 20, 1920, a strong earthquake with magnitude Ms = 6.2 took place in the Gori area. The seismic intensity of this earthquake was estimated as IIX on the MSK scale in Gori. Half of the thousand apartment houses in the town were ruined and others were damaged. This event caused 114 deaths in the Gori area, half of them in the town of Gori. Perspective development of Gori requires the estimation of seismic risk for this territory. Existing data makes it possible to estimate the levels of economic loss caused directly by damaged and ruined buildings that in turn would be generated by earthquakes of various intensities. Particularly, the seismic risk for Gori has been estimated for scenario earthquakes with intensity 7, 8 and 9. Estimated value of losses for earthquakes with intensity 7. 8 and 9 are 60, 170 and 300 million US dollars respectively. The direct economic loss to Gori, caused by the Qartli earthquake of 1920, is estimated (at current prices) at 30 million US dollars. The maps of seismic risk for Gori give a visual demonstration of the most damaged areas. Hence, it is of great importance to establish a system of preventive practical measures which will make it possible to decrease the destructive effect of earthquakes in Tbilisi and Gori. Results of distribution of quantitative values of potential detriment to the cities' territories, which are received on the basis of seismic risk assessment, create necessary prerequisites for solving this problem.