Central Asia Gold AB ("CAG") conducts limited directed issue of 497,264 shares in order to create a suitable capital structure in connection with the planned dividend of the Kopylovskoye AB subsidiary shares to the CAG shareholders CAG AB has today, in accordance with previously distributed information, decided to conduct a directed issue of 497,264 shares. The decision enables to dividend out the remaining 62.5% of the Kopylovskoye AB subsidiary shares to the CAG shareholders according to the so called "Lex Asea". The decision is planned to be approved on the Extraordinary General Meeting, which will take place on December 22, 2008. In order to facilitate a simple dividend of the Kopylovskoye AB shares in the proportion 1:1 (one distributed Kopylovskoye AB share for each existing CAG share) the share capital structure of Kopylovskoye AB is being adapted. Concretely this implies that the shares of Kopylovskoye AB are first split 849:1 so that the number of outstanding shares increases to 849,000,000.Thereafter CAG's holding of Kopylovskoye AB shares will amount to 530,625,000. In CAG there are currently 530,127,736 shares outstanding. Therefore an additional 497,264 shares are being issued. The insurance company Bliwa Livförsäkring is assisting as subscriber to this directed issue in order to facilitate a quick, simple and cost effective dividend for all involved parties. The issue price is SEK 0.20 per share. For more information, please contact: MD Torbjorn Ranta, tel: +46 (0)8 624 26 80, fax: +46 (0)8 624 37 20, mobile phone: +46 (0)70 8 85 55 04, e-mail: torbjorn.ranta@centralasiagold.se, Website: www.centralasiagold.se, Postal and visiting address: Brovägen 9, SE-182 76 Stocksund Central Asia Gold AB is a Swedish mining company focused on gold production and exploration in Russia and Mongolia in the central parts of Asia. The gold production was initiated in late January 2005 and the assets were as at end of 2007 estimated to encompass some 645,000 troy ounces (1 troy ounce = 31.1 g) of C1/ C2 Russian gold reserves. Cautionary Statement: Statements and assumptions made in this report with respect to Central Asia Gold AB's ("CAG") current plans, estimates, strategies and beliefs, and other statements that are not historical facts, are forward-looking statements about the future performance of CAG. Forward-looking statements include, but are not limited to, those using words such as "may", "might", "seeks", "expects", "anticipates", "estimates", "believes", "projects", "plans", strategy", "forecast" and similar expressions. These statements reflect management's expectations and assumptions in light of currently available information. They are subject to a number of risks and uncertainties, including, but not limited to, (i) changes in the economic, regulatory and political environments in the countries where CAG operates; (ii) changes relating to the geological information available in respect of the various projects undertaken; (iii) CAG's continued ability to secure enough financing to carry on its operations as a going concern; (iv) the success of its potential joint ventures and alliances, if any; (v) exchange rates, particularly between the Russian rouble and the U.S. dollar. In the light of the many risks and uncertainties surrounding any gold production and exploration company at an early stage of its development, the actual results could differ materially from those presented and forecast in this report. CAG assumes no unconditional obligation to immediately update any such statements and/or forecasts.