Centerra Gold Comments on Media Reports Regarding Kumtor

Market Wire, May, 2008

Centerra Gold Inc. (TSX: CG) reported that according to press reports today the Supreme Court of the Kyrgyz Republic has issued an order to the Government suspending certain of the Company's agreements and licenses in relation to the Kumtor Project, pending resolution of claims currently before the lower courts. According to the reports, the order was issued pursuant to an application to the Supreme Court by the vice-speaker of the Kyrgyz Parliament and in relation to earlier proceedings begun by the vice-speaker in a lower court against the Government, as previously reported on by the Company in its first quarter report. The Company is seeking further information and will seek clarification from the Government. The Company is not party to any of the proceedings, did not receive any notice of the application to the Supreme Court and has not received any official notice of the order. As the Company has previously stated, disputes with respect to the project are subject to international arbitration.

About Centerra

Centerra is a growth-oriented, gold Company focused on acquiring, exploring, developing and operating gold properties primarily in Central Asia, the former Soviet Union and other emerging markets worldwide. Centerra is a leading North American-based gold producer and the largest Western-based gold producer in Central Asia and the former Soviet Union. Centerra's shares trade on the Toronto Stock Exchange under the symbol CG. The Company is based in Toronto, Canada.

Additional information

Additional information on Centerra is available on SEDAR at www.sedar.com and the Company's website at www.centerragold.com .

Contacts: Centerra Gold Inc. John W. Pearson Director, Investor Relations (416) 204-1241 Website: www.centerragold.com