KazakhGold Group Results of Placing

28 February 2008

              NOT FOR DISTRIBUTION IN THE UNITED STATES

                 KazakhGold Group Results of Placing

KazakhGold Group Limited announces today that it has placed 2,300,000
new ordinary  shares  in  the  form  of  Global  Depository  Receipts
("GDRs") with institutional investors at a price of US$23 per GDR.

For further information, please contact:
Alex Buck
BuckBias
W: [phone]
M: [phone]


Disclaimer:
The GDRs or  the ordinary shares  in the Company  have not been,  and
will not be,  registered under  the United States  Securities Act  of
1933, as amended  (the "US  Securities Act") or  with any  securities
regulatory authority of any state or other jurisdiction of the United
States and may not be offered or sold within the United States or to,
or for the  account or  benefit of,  any US  Person as  that term  is
defined  in  Regulation  S  under  the  US  Securities  Act   without
registration under,  or absent  an  exemption from  the  registration
requirements of, the US  Securities Act. Any offering  to be made  in
the United  States will  be made  to a  limited number  of  qualified
institutional buyers, as such term is defined in Rule 144A under  the
US Securities Act. The Company has  not been registered and will  not
register under the United States Investment Company Act of 1940.

This  announcement  (together  "This   Announcement"),  is  not   for
distribution directly or  indirectly in  or into  the United  States,
Canada, Australia or Japan  or any jurisdiction  into which the  same
would be unlawful. This Announcement does not constitute an offer  to
sell or  issue or  the solicitation  of an  offer to  buy or  acquire
shares in the capital  of the Company in  the United States,  Canada,
Australia or Japan  or any  jurisdiction in  which such  an offer  or
solicitation is unlawful.  No public offering  of securities will  be
made in the United Kingdom, United States or elsewhere.


This Announcement has been issued  by and is the sole  responsibility
of the Company.  No representation or warranty express or implied, is
or will be made as  to, or in relation  to, and no responsibility  or
liability is  or will  be accepted  by JPMorgan  Cazenove Limited  or
Mirabaud Securities Limited ("Managers") or by any of its  affiliates
or agents as to  or in relation to,  the accuracy or completeness  of
this Announcement  or  any other  written  or oral  information  made
available to or  publicly available  to any interested  party or  its
advisers, and any liability therefore is expressly disclaimed.

The Managers  are  acting for  the  Company in  connection  with  the
Placing and no one else and  will not be responsible to anyone  other
than the Company for providing the protections afforded to clients of
the Managers nor for providing advice in relation to the Placing.

The distribution of this Announcement and the offering of the GDRs in
certain jurisdictions may be restricted by  law.  No action has  been
taken by the Company or the Managers that would permit an offering of
such GDRS or possession or  distribution of this Announcement or  any
other offering or  publicity material  relating to such  GDRs in  any
jurisdiction where action for that purpose is required.  Persons into
whose possession this Announcement comes are required by the  Company
and the Managers to inform themselves about, and to observe, and such
restrictions.

The price of GDRs and the income from them may go down as well as  up
and investors may not get back  the full amount invested on  disposal
of the GDRs.

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