The following statement has been released by Oxus Gold and is issued in London by Bankside Consultants on behalf of the Company.

LONDON: 18 October 2001 - Oxus Gold plc ("Oxus" or "the Company") announces that it has appointed Hoodless Brennan and Partners plc to act as joint brokers for the company in association with its current brokers, Old Mutual Securities Ltd. Old Mutual also acts as Oxus Mining's nominated adviser.

END

Contacts:

Oxus Gold
Roger Turner, CEO
Tel: +44 (0)1483 714 411

Oxus Gold
Michael de Villiers, Finance Director
Tel: +44 (0)1483 714 411

Bankside Consultants, London
Keith Irons
Tel: +44 (0)20 7220 7477