The Company received notification on 21 November 2003 that, following the purchase of 5,840,000 of its ordinary shares of 1p each on 3 September 2003, which represents 2.98% of its issued ordinary share capital, Carmignac Gestion is now interested in a total holding of 7,012,500 ordinary shares in Oxus Gold. This holding represents 3.57% of the Company's issued ordinary share capital.

Contacts:

Oxus Gold plc
Richard Wilkins
Tel: 020 7907 2000