Ownership Structure

The 17 largest owners in Central Asia Gold AB (publ) at March 31, 2012, updated for known changes

Shareholder	Number of shares	Ownership
Bertil Holdings Ltd	9,314,968	52.87%
Swiss Life (LIECHTENSTEIN) AG	1,095,000	6.22%
CGML IPB Customer Collateral AC	929,665	5.28%
GKL GROWTH CAPITAL AB	796,532	4.52%
Swiss Life (LIECHTENSTEIN) AG	500,000	2.84%
SIX SIS AG, W8IMY	416,185	2.36%
CLEARSTREAM BANKING S.A., W8IMY	386,735	2.20%
ELLGE KAPITAL I STOCKHOLM	370,287	2.10%
ROYAL SKANDIA LIFE	314,379	1.78%
4100, VICTORY	314,166	1.78%
DUNROSS & CO AKTIEBOLAG	285,000	1.62%
SVEA LANDS. S.A	264,363	1.50%
BANQUE ÖHMAN S.A.	200,000	1.14%
KL CAPITAL AKTIEBOLAG	189,797	1.08%
FÖRSÄKRINGSAKTIEBOLAGET, AVANZA PENSION	154,244	0.88%
PLOTEK, BERNT	122,500	0.70%
GIBSON, STUART	101,206	0.57%
Subtotal for the 17 largest owners	15,755,027	89.44%
Other appr. 3,500 shareholders	1,861,960	10.56%
Total number of shares outstanding	17,616,987	100.00%

Source: Euroclear AB and Central Asia Gold AB.