Response to Press Comment

For immediate release Moscow, April 14, 2010

Response to press comment

OJSC Polyus Gold (RTS, MICEX and LSE - PLZL), Russia's largest gold producer, notes the recent press comments concerning a possible transaction involving the Company and KazakhGold Group Limited, 50.1% of which is indirectly owned by the Company.

KazakhGold Group Limited has applied for an approval from the Government Commission on Monitoring Foreign Investment in the Russian Federation for the acquisition of control over Polyus Gold by the Company.

However, its consideration of a possible transaction remains at a preliminary stage, no decision has been made regarding any possible transaction, and any transaction would remain subject to a number of approvals and pre-conditions, including various corporate and government approvals. Consequently, there can be no certainty that any transaction will be forthcoming.

A further announcement will be made in due course as appropriate.

Enquiries

For further information, contact:

Alexey V. Chernushkin, Director, CM and IR

Evguenia V.Buydina, IR manager

+7 (495) 641-3377

+7 (495) 785-4031

 ir@polyusgold.com

Anton A. Arens, PR Director

+7 (495) 641-3365

+7 (495) 544-5496

pr@polyusgold.com