In regards to the recent press statement of the Ar-Namys faction in KR Jogorku Kenesh, the Company states the following regarding the restructuring of Kumtor Gold Company (KGC).
On December 31, 2003, the Government of the Kyrgyz Republic issued a decree authorizing the Kumtor restructuring. At the time of the restructuring, all parties had international financial and legal advisors advising them. The team of experts from the Government of the Kyrgyz Republic used Standard Bank of London, for financial issues, and Blake, Cassels & Gradon, for legal issues, and the agreed and approved restructuring was based on fair terms to all parties. The details of the restructuring of KGC, which was completed on June 22, 2004, is a matter of public record and is described in detail in Centerra Gold’s prospectus for its Initial Public Offering (IPO) dated June 22, 2004. The prospectus is filed on SEDAR www.sedar.com and is available to the public.
The Company has already commented on other issues raised by Ar-Namys Faction. If representatives of the Faction need detailed information, the Company proposes to hold a meeting at which management and specialists will answer all questions raised by Faction representatives.