Further to the Board reorganisation announced on 15 November 2002, Oxus announces that Michael de Villiers is leaving the Company as Finance Director with immediate effect. The Board wishes to record its appreciation of his efforts and wishes him the best for the future. Mr Jonathan Kipps, who was recently appointed to the Board as a non-executive director, will assume the duties of Finance Director with immediate effect.

END

Contacts:

Oxus Mining
Tel: +44 (0)1483 714 411
John Donald, COO
oxus@oxus.demon.co.uk
www.oxusminingplc.com

Brown Shipley Corporate Finance
Tel: +44 (0)20 7606 9833
Bill Staple