HGM.L Regulatory News (HGM)

24 Mar 2005 12:19

Highland Gold Mining Limited24 March 2005 24 March 2005 Highland Gold Announces Rb 750m Bond Issue Highland Gold Finance Limited Liability Company, the wholly owned Russiansubsidiary of Highland Gold Mining Limited, the AIM quoted Russian goldproducer, announces today that it has initiated the process to raise Rb.750,000,000 (approximately US$27.2 million) in the Russian Federation by way ofa placement of Bonds. The bonds will have a 3 year maturity. The placement isbeing led by International Moscow Bank and Promsvyazbank and is expected tobegin on 6 April 2005. The subscription period will then last for three weeks. A copy of the issue prospectus, prepared in line with the relevant securitiesregulations in the Russian Federation, is available at Highland Gold'smanagement company in Russia, Russdragmet, 8/2 bld.2, Kursovoy per., Moscow,Russia and also from Highland Gold's website at www.highlandgold.com. The Bond issue has been pre-registered with the Federal Commission for theSecurities Market of the Russian Federation. The net proceeds from this offering will be used for general corporate purposes,including funding construction at Highland Gold's development projects. Enquiries:Highland Gold Mining Denis Alexandrov, Finance Director+7 095 777 3155 Dmitry Yakushkin, Director of Communicationsenquiries@highlandgold.comBrunswick Mark Antelme www.highlandgold.com This information is provided by RNS The company news service from the London Stock Exchange