Oxus received notification on 14 March 2005 pursuant to the provisions of the Companies Act 1985 that Fidelity International Limited and its direct and indirect subsidiaries, being non-beneficial holders, has increased its holding by 2,653,889 and now holds 20,606,055 ordinary shares representing 7.18% of the ordinary issued share capital of the Company.

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