Oxus received notification on 21st March 2005 pursuant to the provisions of the Companies Act 1985 that RAB Capital plc, acting as investment manager for a number of commingled funds, has increased it's shareholding by 9,041,000 ordinary shares and now holds 33,891,637 ordinary shares of the company representing 11.81 per cent of the issued share capital.

Contacts:

Oxus Gold plc
Richard Wilkins, Company Secretary
Tel: + 44 (0)20 7907 2000

Bankside Consultants Ltd.
Keith Irons
Tel: + 44 (0)20 7444 4155