OREANDA-NEWS. July 26, 2011. Further to the announcement on 19 July 2011 in relation to the closing of the Private Exchange Offer for further acceptances, KazakhGold Group Limited (the “Company”) is pleased to announce that the Proposed Combination with OJSC Polyus Gold (“Polyus Gold”), which was announced by the Company on 17 June 2011, has been successfully completed.  As a result of the Transactions comprising the Proposed Combination, the Company has acquired Polyus Gold ordinary shares and American depositary receipts (“ADRs”) representing in aggregate 89.14% of Polyus Gold’s issued share capital.   As a result of the Proposed Combination, the issued share capital of the Company constitutes 3,032,149,962 ordinary shares with nominal value ?0.0001 each.

The Company is also pleased to announce the admission of up to  2,985,049,962 global depositary receipts (“GDRs”), with one GDR representing one ordinary share of the Company, to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's main market for listed securities.  As of the date of this announcement 1,942,067,953 of the Company’s shares are issued in the form of GDRs.

The newly-admitted GDRs comprise Regulation S GDRs and Level I GDRs, including 337,729,534 Level I GDRs issued in relation to the Private Exchange Offer. As at the date of admission, the Tradable Instrument Display Mnemonic (“TIDM”) for the Regulation S GDRs remains “KZG”, and the TIDM for the Level I GDRs is “KZGI”.  As previously announced and approved by the shareholders on 17 July 2011, the Company is changing its name to “Polyus Gold International Limited”, as a result of which the TIDMs are expected to be changed to “PLGL” and “POLG”, respectively.  A further announcement will be made when the change of name has been registered and become effective, including details of the new Company’s TIDMs.   It is currently expected that the change of name and, accordingly, the TIDMs will become effective on 27 July 2011.