TORONTO, ONTARIO -- (Marketwire) -- 04/29/11 -- Centerra Gold Inc. (TSX: CG) announced today that its Board of Directors has declared a dividend totaling Cdn$94.4 million (approximately US$99.3 million at the current exchange rate), or Cdn$0.40 per common share, comprised of Cdn$0.30 per common share as a special dividend and Cdn$0.10 per common share as an annual dividend. The dividend is payable on May 18, 2011 to shareholders of record on May 12, 2011. The ex-dividend date will be May 10, 2011.

"The decision of Centerra's Board to declare the special dividend was based on our strong operating performance and the high gold price, which have created substantial operating cash flow, and, even after significant capital investment, is resulting in growing cash balances. We believe that this dividend will benefit all of our shareholders, and particularly Kyrgyzaltyn JSC, Centerra's largest shareholder," said Steve Lang, President and CEO of Centerra Gold.

The dividend is an eligible dividend for Canadian income tax purposes.

About Centerra

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

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