LONDON: 27th October 2004 - Oxus Gold plc ("Oxus" or "the Company") (OXS.L) reports a profit before tax of US$11.4 million for the 12 months ended 30 June 2004. Earnings after tax and minorities amounted to $10.9 million, equal to 5.32 cents per share.

Oxus' joint venture gold mine in Uzbekistan, Amantaytau Goldfields ("AGF"), started production in February 2004 and produced a total of 59,689 ounces of gold to the end of June. The Company received attributable income of $3.74 million from AGF during this period, excluding interest and fees. After accounting for administration expenses and deferred exploration costs, Oxus recorded an operating loss of $0.8 million. In addition, Oxus made a net gain of $12.25 million on the disposal of part of its stake in Marakand Minerals.