The payment of USD50 million by Oyutolgoi LLC as the investment agreement on the copper-gold deposit took full legal effect was part of the process set out in the agreement whereby Oyutolgoi LLC was to purchase three Treasury Bills (T-Bills) from the Government of Mongolia, having an aggregate face value of USD287.5 million, for the aggregate sum of USD250 million. The annual rate of interest on the T-Bills is 3.0%. Each T-Bill will mature on the fifth anniversary from the date of its respective issuance.

The initial T-Bill, with a face-value of USD115.0 million, was purchased on October 20, 2009. The purchase price was USD100.0 million. The present check was for a second T-Bill, with a face value of USD57.5 million.

The final T-Bill, having a face value of USD115.0 million, will be purchased for USD100.0 million within 14 days of OT LLC fully drawing down the financing necessary to enable the complete construction of the Oyutolgoi Project, or June 30, 2011, whichever date is earlier.