OREANDA-NEWS. December 15, 2011. Polyus Gold International Limited ("PGIL") announces that the First Tranche Completion under the Restated and Amended Principal Agreement dated 10 April 2011 for the sale of its operating subsidiaries in Kazakhstan, Kyrgyzstan and Romania (the "RAPA") with AltynGroup Kazakhstan LLP ("AltynGroup") did not occur by the extended First Tranche Cut-Off Date of 12 December 2011, reported the press-centre of Polyus Gold.

The RAPA continues to be in effect, but is now terminable by either party.
 
Negotiations are continuing and a further announcement will be made in due course.