Polyus Gold International Limited (LSE – PLGL, OTC (US) – PLZLY, PGIL or ‘the Company’), the largest gold producer in Russia, today announces that it has terminated the Restated and Amended Principal Agreement dated 10 April 2011 (as subsequently amended and supplemented) for the sale of its operating subsidiaries in Kazakhstan, Kyrgyzstan and Romania (the “RAPA”) with Altyn Group Kazakhstan LLP given that the First Tranche Completion under the RAPA did not occur by the First Tranche Cut-Off Date.

The Letter of Credit, which was issued in favour of PGIL under the terms of the RAPA, has been extended until 29 June 2012 and remains in full force and effect.

PGIL remains in discussions with Altyn Group and continues to review its options with respect to the sale of its operating subsidiaries in Kazakhstan, Kyrgyzstan and Romania.


Enquiries:

Investor contact
Evgenia Buydina, Manager Investor Relations
 +44 (0) 208 528 14 50  ir@polyusgold.com

Media contact
Sergey Lavrinenko, Director Communications
 +44 (0) 208 528 10 20  lavrinenkosn@polyusgold.com