In 2007, Kinross produced approximately 1.6 million gold equivalent ounces, in line with its previously-stated guidance for the full year. Based on a preliminary review of fourth quarter 2007 results, including the impact of higher royalty costs as a result of a higher gold price, and higher energy costs, Kinross currently expects its full-year average cost of sales for 2007 to be at the high end of, or slightly above, its previously stated cost of sales guidance range of $355 to $365 per gold equivalent ounce. The Company will provide a final statement of its 2007 production and cost of sales as part of its fourth quarter and year-end 2007 financial results, which will be issued on February 21, 2008. The Company will also issue an updated mineral reserve statement at that time.