ANGLOGOLD - JOINT COMPANY ANNOUNCEMENT

ANGLOGOLD
ANGLOGOLD LIMITED
(REGISTRATION NO. 05/17354/06)
("ANGLOGOLD")
ARM

AFRICAN RAINBOW MINERALS & EXPLORATION (PROPRIETARY) LIMITED
(REGISTRATION NO. 97/15869/07)
("ARM")

(BOTH OF WHICH ARE INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
SALE OF SHAFTS AND GOLD PLANT

FREE STATE CONSOLIDATED GOLD MINES (OPERATIONS) LIMITED (FREEGOLD (OPS)), A
WHOLLY OWNED SUBSIDIARY OF ANGLOGOLD, HAS SIGNED AN AGREEMENT WITH ARM IN TERMS
OF WHICH FREEGOLD (OPS) WILL SELL TO ARM FOR R28,0 MILLION ITS WESTERN HOLDINGS
1, 2, 3, 4, 6 AND 7 SHAFTS, TOGETHER WITH THE PREVIOUSLY CLOSED WELKOM GOLD
PLANT.

NONE OF THESE ASSETS FORM PART OF THE NEW ANGLOGOLD STRUCTURE.

THE CONSIDERATION, WHICH IS PAYABLE ENTIRELY IN CASH, WILL BE SETTLED BY AN
INITIAL PAYMENT OF R7,0 MILLION WITHIN FIVE DAYS OF THE DATE OF SIGNATURE OF
THE AGREEMENT, WITH THE BALANCE PAYABLE IN TWICE YEARLY INSTALMENTS CALCULATED
IN ACCORDANCE WITH A PRE-DETERMINED FORMULA.

ALL REHABILITATION LIABILITIES, ESTIMATED TO BE R34,4 MILLION, IN RESPECT OF
THE ASSETS SOLD WILL PASS TO ARM.

ANGLOGOLD WILL RETAIN OWNERSHIP OF THE MAJOR ROTATING EQUIPMENT VALUED AT R76,0
MILLION.
JOHANNESBURG
30 JULY 1998
SPONSORING BROKER
WARBURG DILLON READ
WARBURG DILLON READ (SOUTH AFRICA) (PTY) LTD.
(REGISTRATION NUMBER 94/08363/07)
SUBSIDIARY OF UBS AG