ANGLOGOLD REPORTS ANOTHER GOOD PERFORMANCE

NEWS RELEASE
CORPORATE COMMUNICATIONS DEPARTMENT
1st FLOOR, 11 DIAGONAL STREET
JOHANNESBURG 2001
TELEPHONE: (+27 11) 637-6385
FAX: (+27 11) 637-6399/6400
31 October 2001
Results for the Quarter ended 30 September 2001
ANGLOGOLD REPORTS ANOTHER GOOD PERFORMANCE
Highlights of the quarter

Headline earnings before unrealised losses on hedging activities rose 15% to
$76 million or 19% to R637 million (equivalent to $0.71 per ordinary share
or $0.36 cents per ADR or 595 cents per share).

Gold production increased by 3% to 1.8 million ounces; this increase was
reflected in all regions.

Total cash costs were down 5% to $176 per ounce reflecting the effect of
cost reduction initiatives and the benefit of having dollar-based revenues
in countries with weak currencies.  In South Africa, unit cash costs were 1%
down in rand terms, notwithstanding the wage increase which became effective
this quarter.

Total production costs - down 5% to $211 per ounce - followed this trend.
Operating profit rose 13% to $135 million or, in rand terms, 18% up to R1.1
billion.

Operating profit, together with lower finance costs and higher taxation on
the increased profit, resulted in the 15% increase in headline earnings
before unrealised losses on hedging activities.

Return on capital based on headline earnings (before unrealised losses on
hedging activities) was 14%.
AngloGold's return on equity was 17%.

Chairman and CEO Bobby Godsell commented on the results:

"AngloGold has delivered a third successive improved quarter as a result of
strong performances in all of its operating regions.  I am particularly
pleased with our success in reducing operating costs.  In South Africa, this
was achieved against a background of increased employment costs arising from
the industry-wide wage increases granted this year."

On the proposed offer for Normandy, he said that the offer was progressing
according to plan and that AngloGold remained confident that the transaction
would be completed successfully.

On the sale of the Free State assets, he noted that although there had been
previous offers, these had been significantly less than the value AngloGold
believed it could itself extract from these assets.  However, the offers
that had recently been received reflected a more realistic valuation.
AngloGold was now in the process of finalising the transaction.
Ends

For the complete Report for the Quarter visit the AngloGold website:
www.anglogold.com
Queries:
In South Africa:

Steve Lenahan                      Shelagh Blackman

Telephone: +27 11 637 6248         Telephone: +27 11 637 6379

Mobile: +27 83 308 2200            Mobile: +27 83 308 2471

E-Mail: slenahan@anglogold.com     E-Mail: sblackman@anglogold.com
In the United Kingdom:             In Europe:

Alex Buck                          Tomasz Nadrowski

Telephone: +44 20 7664 8712        Telephone: +41 22 718 3312

Mobile: +44 793 274 0452           Mobile: +4179 345 9774

E-Mail: abuck@anglogold.com        E-mail: tnadrowski@anglogold.com

In Australia:                      In the United States of America:
Andrea Maxey                       Charles Carter

Telephone: +61 8 9425 4604         Telephone: 800 417 9255

                                   (toll-free in North America)

Mobile: + 61 438 001 393           Telephone: +1 212 750 7999

E-Mail: amaxey@anglogold.com.au    E-Mail: ccarter@anglogold.com
Disclaimer

Except for the historical information contained herein, there are matters
discussed in this news release that are forward looking statements.  Such
statements are only predictions and actual events or results may differ
materially.  For a discussion of important factors including, but not
limited to, development of the Company's business, the economic outlook in
the gold mining industry, expectations regarding gold prices and production,
and other factors, which could cause actual results to differ materially
from such forward ooking statements, refer to the Company's annual report on
the Form 20F for the year ended 31 December 2000 which was filed with the
Securities and Exchange Commission on 23 April 2001.

Holders of Normandy shares and Normandy ADSs located in the United States
are strongly advised to read the F4 registration statement regarding the
offer referred to in this presentation and other documents to be filed with
the US Securities and Exchange Commission when they become available,
because they will contain important information.  Holders of Normandy shares
and Normandy ADSs may read and copy these statements, when available, at the
US Securities and Exchange Commission's public reference rooms.  Please call
the US Securities and Exchange Commission at +1-800-SEC-0330 for further
information on the public reference rooms. These US Securities and Exchange
Commission filings are also available to the public from commercial document
retrieval services.