Further to the announcements made on 11 April 2011 and on 12 September 2011, Polyus Gold International Limited (formerly KazakhGold Group Limited) (“PGIL”) announces that PGIL entered into a second deed of amendment (the RAPA Amendment”) to the Restated and Amended Principal Agreement dated 10 April 2011 for the sale of its operating subsidiaries and related matters (the “RAPA”), as amended by the deed of amendment dated 12 September 2011, with AltynGroup Kazakhstan LLP (“AltynGroup”), a limited liability partnership controlled by members of the Assaubayev family, under which the parties have agreed to further extend the date of the First Tranche Completion until 12 December 2011 and made a number of consequential changes to reflect a corresponding extension of other deadlines set forth in the RAPA and the irrevocable documentary stand-by letter of credit for US$100,000,000 obtained by PGIL pursuant to the terms of the RAPA.

Enquiries:

Polyus Gold International Limited

Alexey V. Chernushkin, Director, Capital Markets and IR
 +44 (0) 208 528 1450 

Evguenia V. Buydina, IR manager
 +7 (495) 641 3377 

Anton A. Arens, PR Director
 +44 (0) 208 528 1450 
 +44 (0) 208 528 1020