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Oxus Gold PLC (OXS)

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Friday 01 June, 2007

Oxus Gold PLC

EGM

Oxus Gold PLC
01 June 2007


news release

For immediate release: Friday, 1 June 2007

                                 OXUS GOLD PLC

             Distribution by Oxus of its holding of KazakhGold GDRs

LONDON: 1 June 2007 - Oxus Gold Plc, ('Oxus' or 'the Company') (OXS.L) has today
mailed a circular to convene an extraordinary general meeting of the Company
('EGM') at 11.00 am on Wednesday, 20 June 2007, for the purpose of seeking
shareholder approval for the distribution to shareholders of a dividend in
specie of KazakhGold Group Limited ('KazakhGold') global depositary receipts
('GDRs') held by Oxus.

On 12 March 2007 Oxus announced that it had agreed in principle to sell to
KazakhGold its Kyrgyz, Romanian and certain Turkish assets in consideration of
the issue to Oxus of 3,541,666 new KazakhGold shares. The transaction was
completed on 10 May 2007.

The KazakhGold shares received by Oxus, which are not trading on any exchange,
have been converted into KazakhGold GDRs, on the basis of one share being equal
to one GDR, and these have been admitted to the Official List and to trading on
the main market of the London Stock Exchange.

Conditional on shareholder approval Oxus will distribute the KazakhGold GDRs to
shareholders on the basis of one GDR for every 110 Oxus shares held at the
record date of Friday, 22 June 2007. Fractional entitlements arising from
individual holdings of Oxus shares which are not exactly divisible by 110 will
be aggregated and retained by Oxus for the benefit of all shareholders.

The KazakhGold GDRs can only be held electronically and Oxus shareholders who
currently hold their Oxus shares in certificated form will need to arrange for
the GDRs to be held in a CREST account before distribution to them can be made.
Full details of the arrangements they will need to make are included with the
circular sent to shareholders.

A KazakhGold GDR is a bank certificate issued by the Bank of New York which
represents one KazakhGold share. At close of business on Wednesday, 30 May 2007,
the mid-market price of each KazakhGold GDR on the London Stock Exchange was
US$20.40, equivalent to £10.33 based on the dollar/sterling exchange rate on
that day, and equal to 9.39p per Oxus share.

The EGM will be held at the offices of the Company, 105 Piccadilly, London, W1.

                                      END
Contacts:

Oxus Gold plc
Richard Wilkins: Tel: +44 (0)20 7907 2000
website: www.Oxusgold.co.uk

Canaccord Adams Limited
Mike Jones Tel: +44 (0)20 7050 6755
Erin Needra

Bankside Consultants Ltd.
Keith Irons Tel: +44 (0)20 7367 8873
Oliver Winters



                      This information is provided by RNS
            The company news service from the London Stock Exchange