Dividend

As part of the Company's long-term strategy to maximize shareholder value, Centerra Gold commenced paying an annual dividend in 2010. The inaugural annual dividend of C$0.06 per common share was paid on September 8, 2010.

Centerra's Board of Directors will review the amount of the dividend on an annual basis depending upon the Company's cash balances, operating cash flows, anticipated capital requirements for future growth, the yields of comparable companies' dividend rates, and such other considerations as the Board of Directors may consider relevant.

On April 29, 2011, the Company announced that its Board of Directors declared a special dividend of C$0.30 per common share and increased the annual dividend to C$0.10 per common share, both were payable on May 18, 2011 to shareholders of record on May 12, 2011.

The ex-dividend date was May 10, 2011.

Dividends paid by Centerra are designated as eligible dividend for the purpose of the Income Tax Act (Canada), and for relevant Canadian provincial and territorial income tax legislation, unless notice to the contrary with respect to a particular dividend is given. As a result, the dividend payable on May 18, 2011 has been designated as an eligible dividend for this purpose

Currently, Centerra does not have a Dividend Re-Investment Plan ("DRIP").