ANG - AngloGold Ashanti Limited - Updates on electricity supply situation

ANG - AngloGold Ashanti Limited - Updates on electricity supply situation       
AngloGold Ashanti Limited                                                       
Incorporated in the Republic of South Africa                                    
Registration Number: 1944/017354/06)                                            
ISIN Number: ZAE000043485                                                       
JSE Share Code: ANG                                                             
ANGLOGOLD ASHANTI UPDATES ON ELECTRICITY SUPPLY SITUATION                       
AngloGold Ashanti has today agreed a process with Eskom, whereby the supplier 
will give its normal guarantees for sufficient power for the company to         
undertake shifts from tonight for the purpose of re-establishing safe workplaces
at each of the deep level underground mines in South Africa. The company is     
anticipating a ramp up in additional power later in the week that should enable 
a phased return to normal mining operations.  A protocol has also been agreed   
with the electricity supplier whereby Eskom, will provide the company with four 
hours warning, prior to having to reduce power supply.                          
This decision follows a meeting today of a multilateral task team established 
at a meeting on Saturday evening of officials and executives from the           
Departments of Minerals and Energy and Public Enterprises, Eskom, the Chamber of
Mines, mining companies and the National Union of Mineworkers. Today`s meeting  
considered ways in which Eskom and the mining industry could collaborate to     
reduce sector demand by 10% and, simultaneously, provide mines with confidence  
in an uninterrupted power supply, providing the necessary guarantees for        
workplace safety.                                                               
Since 2004, Eskom and AngloGold Ashanti have been working to improve energy   
efficiencies and reduce consumption, with both organisations committing funds   
and resources to the programme.  These combined efforts have achieved an 18%    
improvement in energy efficiencies.  In the light of this success, AngloGold    
Ashanti is confident that, with continued collaboration between the company and 
Eskom, the 10% reduction target set at yesterday`s meeting can be achieved      
without necessarily affecting workplace safety or production.                   
  With respect to the immediate future, it is not yet possible to indicate with 
any certainty how long it will take the seven AngloGold Ashanti mines in South  
Africa to return to full production. This will be determined by the rate at     
which Eskom is able to increase supply to the mines without compromising the    
national grid and, importantly, how much work will be necessary at each         
operation to ensure that working places are safe following their unanticipated  
closure.                                                                        
  Mark Cutifani, AngloGold Ashanti`s CEO said today: "I think that we are       
starting to emerge from a crisis that had the potential to undermine the        
viability of the South African gold industry. It is encouraging to see the      
Government and Eskom acknowledge the industry and its importance to South       
Africa. As a company we have worked with Eskom to reduce energy consumption over
the past four years. Together, we have already achieved significant success in  
reducing consumption and must continue to work together, as we seek, in the     
first instance to re-establish safe work places in our deep level operations,   
and over the next few days to start to return to more normal production         
practices.  I am confident that we can find workable solutions to the challenges
we face if we have the full co-operation of Eskom, the Departments of Minerals  
and Energy and Public Enterprises and the unions. Given the level of co-        
operation experienced over the weekend we are confident we can move forward     
together".                                                                      
ENDS                                                                          
  AGA04.08                                                                      
  27 January 2008                                                               
  JSE Sponsor - UB                                                              
Queries                                                                         
  South Africa     Tel:                 Mobile:                                 
  Steven Lenahan   +27 (0) 11 637 6248  +27 (0) 83 308 2200                     
  E-mail:  slenahan@AngloGoldAshanti.com                                        
Alan Fine        +27(0)11 637 6383    +27(0)83 350 0757                       
  E-mail: affine@AngloGoldAshanti.com                                           
  Certain statements made during this communication, including, without         
limitation, those concerning the economic outlook for the gold mining industry, 
expectations regarding gold prices, production, cash costs and other operating  
results, growth prospects and the outlook of AngloGold Ashanti`s operations     
including the completion and commencement of commercial operations of certain of
AngloGold Ashanti`s exploration and production projects, and its liquidity and  
capital resources and expenditure, contain certain forward-looking statements   
regarding AngloGold Ashanti`s operations, economic performance and financial    
condition. Although AngloGold Ashanti believes that the expectations reflected  
in such forward-looking statements are reasonable, no assurance can be given    
that such expectations will prove to have been correct. Accordingly, results    
could differ materially from those set out in the forward-looking statements as 
a result of, among other factors, changes in economic and market conditions,    
success of business and operating initiatives, changes in the regulatory        
environment and other government actions, fluctuations in gold prices and       
exchange rates, and business and operational risk management. For a discussion  
of such factors, refer to AngloGold Ashanti`s annual report for the year ended  
31 December 2006, which was distributed to shareholders on 29 March 2007.       
AngloGold Ashanti undertakes no obligation to update publicly or release any    
revisions to these forward-looking statements to reflect events or circumstances
after today`s date or to reflect the occurrence of unanticipated events.        
  In connection with the proposed merger transaction involving AngloGold        
Ashanti and Golden Cycle Gold Corporation, AngloGold Ashanti will file with the 
SEC a registration statement on Form F-4 and GCGC will mail a proxy             
statement/prospectus to its stockholders, and each will be filing other         
documents regarding the proposed transaction with the U.S. Securities and       
Exchange Commission ("SEC") as well. BEFORE MAKING ANY VOTING OR INVESTMENT     
DECISION, INVESTORS ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS REGARDING  
THE PROPOSED TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS CAREFULLY WHEN THEY   
BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE      
PROPOSED TRANSACTION. The final proxy statement/prospectus will be mailed to    
GCGC`s stockholders. Stockholders will be able to obtain a free copy of the     
proxy statement/prospectus, as well as other filings containing information     
about AngloGold Ashanti and GCGC, without charge, at the SEC`s Internet site    
(http://www.sec.gov). Copies of the proxy statement/prospectus and the filings  
with the SEC that will be incorporated by reference in the proxy                
statement/prospectus can also be obtained, without charge, by directing a       
request to AngloGold Ashanti, 76 Jeppe Street, Newtown, Johannesburg, 2001 (PO  
Box 62117, Marshalltown, 2107) South Africa, Attention: Investor Relations, +27 
11 637 6385, or to Golden Cycle Gold Corporation, 1515 S. Tejon, Suite 201,     
Colorado Springs, CO 80906, Attention: Chief Executive Officer, (719) 471-9013."
Date: 28/01/2008 07:49:29 Supplied by www.sharenet.co.za                     
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