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) 7050 6755
Erin Needra 

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