FOR IMMEDIATE RELEASE

14 April 2010

KazakhGold Group Limited ("KazakhGold")

Response to press comment

KazakhGold (the "Company") notes the recent press comments concerning a possible transaction involving the Company and OJSC Polyus Gold ("Polyus Gold"), which indirectly owns 50.1% of the Company.

KazakhGold confirms that it has applied for an approval from the Government Commission on Monitoring Foreign Investment in the Russian Federation for the acquisition of control over Polyus Gold by the Company.

However, its consideration of a possible transaction remains at a preliminary stage, no decision has been made regarding any possible transaction, and any transaction would remain subject to a number of approvals and pre-conditions, including various corporate and government approvals. Consequently, there can be no certainty that any transaction will be forthcoming.

A further announcement will be made in due course as appropriate.

Enquiries

For further information, contact:

Alexey V. Chernushkin, Director, CM and IR

Evguenia V.Buydina, IR manager

+7 (495) 641-3377

+7 (495) 785-4031

 ir@polyusgold.com

Anton A. Arens, PR Director

+7 (495) 641-3365

+7 (495) 544-5496

pr@polyusgold.com