For immediate release 3 September 2015

Polyus Gold International Limited

Notification of Major Shareholding

Polyus Gold International Limited (LSE and MICEX-RTS - PGIL, the "Company"), has been notified by Mr. Abusaid (Said) Kerimov that he has acquired the right to give mandatory instructions in respect of appointment of management and directors and conduct of business of Wandle Holdings Limited, a shareholder in Polyus Gold International Limited holding 40.2% of the capital.

A TR-1 Form dated 2 September 2015 prepared by Mr. Abusaid (Said) Kerimov under the FCA Disclosure and Transparency Rules and provided to the Company is set out below.

Enquiries:

Investor contact

Sergey Krivokhizhin, Director Investor Relations

+ 44 (0) 20 3713 4290 ir@polyusgold.com

Media contact

Artem Gorbachev, Press Secretary

+ 44 (0) 20 3713 4290 gorbachevav@polyusgold.com

Forward looking statements

This announcement may contain "forward-looking statements" concerning PGIL. Generally, the words "will", "may", "should", "could", "would", "can", "continue", "opportunity", "believes", "expects", "intends", "anticipates", "estimates" or similar expressions identify forward-looking statements. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Forward-looking statements include statements relating to future capital expenditures and business and management strategies and the expansion and growth of PGIL's operations. Many of these risks and uncertainties relate to factors that are beyond PGIL's ability to control or estimate precisely and therefore undue reliance should not be placed on such statements which speak only as at the date of this announcement. PGIL assumes no obligation in respect of, and does not intend to update, these forward-looking statements, except as required pursuant to applicable law.

For filings with the FCA include the annex
For filings with issuer exclude the annex

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESⁱ

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:ⁱⁱ		Polyus Gold International Limited ("Polyus")
2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights			ü
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
An event changing the breakdown of voting rights
Other (please specify):
3. Full name of person(s) subject to the notification obligation:ⁱⁱⁱ	Mr Abusaid (Said) Kerimov
4. Full name of shareholder(s) (if different from 3.):^iv	Wandle Holdings Limited
5. Date of the transaction and date on which the threshold is crossed or reached: ^v	31 August 2015
6. Date on which issuer notified:	2 September 2015
7. Threshold(s) that is/are crossed or reached: ^{vi, vii}	40%

8. Notified details:

A: Voting rights attached to shares ^{viii, ix}

Class/type of
shares

if possible using
the ISIN CODE

Situation previous
to the triggering
transaction

Resulting situation after the triggering transaction

Number
of
Shares

Number
of
Voting
Rights

Number
of shares

Number of voting
rights

% of voting rights ^x

Direct

Direct ^xi

Indirect ^xii

Direct

Indirect

1,219,680,676

40.2

Ordinary shares of £0.0001

JE00B5WLXH36

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Expiration
date ^xiii

Exercise/
Conversion Period ^xiv

Number of voting
rights that may be
acquired if the
instrument is
exercised/ converted.

% of voting
rights

N/A

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments ^{xv, xvi}

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise price

Expiration date ^xvii

Exercise/
Conversion period ^xviii

Number of voting rights instrument refers to

% of voting rights ^{xix, xx}

N/A

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

1,219,680,676

40.2

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: ^xxi
- Wandle Holdings Limited holds or is interested in 1,219,680,676 ordinary shares, representing 40.2% of the voting rights in Polyus. - Sacturino Limited (a Cyprus company) is a wholly owned subsidiary of Wandle Holding Limited (a Cyprus company). - Wandle Holdings Limited is a wholly owned subsidiary of Allclear Services Limited (a BVI company). - Allclear Services Limited is a wholly owned subsidiary of the PG Trust (based in Liechtenstein). - Suleyman Kerimov Foundation and Abusaid (Said) Kerimov are beneficiaries of PG Trust. - In addition, Abusaid (Said) Kerimov, through a protector of PG Trust with whom Abusaid (Said) Kerimov signed a Contract of Mandate on 31 August 2015, can give mandatory instructions in respect of appointment of management and directors and conduct of business of Wandle Holdings Limited (and Sacturino Limited).

Proxy Voting:
10. Name of the proxy holder:		N/A
11. Number of voting rights proxy holder will cease to hold:
12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:
14. Contact name:	Michail Koursaros
15. Contact telephone number:	+357 22340564