LONDON: 4 December 2003 - The Directors of Oxus Gold plc ("Oxus" or "the Company") are pleased to note the admission today to AIM of its subsidiary, Marakand Minerals Limited ("Marakand"), by way of an Introduction by Williams de Broë Plc.

Update on distribution of Marakand shares:

On 17 October 2003 Oxus announced that it intended to distribute part of its shareholding in Marakand to its shareholders. The proposed distribution is subject to the prior approval of Oxus shareholders at an EGM and a court order. The Company expects to despatch a circular to shareholders in the next few days. An announcement will be made when the circular is despatched. It is proposed that Oxus shareholders will receive one share in Marakand for every ten shares held in the Company.

ENDS

Contacts:

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

Williams de Broë Plc 
Louis Castro / David Newton
Tel: +44 (0)20 7588 7511

Russell & Associates:
London: Alex Buck
Tel +44 (0)7932 740 452

Johannesburg: Marion Brower
Tel: +27 (11)880 3924 / +27 (0)82 895 0698