Anglogold - News Release

Share code: ANG
ISIN      : ZAE000014601.

Results for the Quarter and Year ended 31 December 2001
SOLID QUARTER COMPLETES GOOD YEAR FOR ANGLOGOLD
Key features
Results for the quarter

Headline earnings (before unrealised hedging activities) up 16% to $88
million or, in rand terms, 45% to R924 million
Total cash costs down from $176/oz to $159/oz

Operating profit up 13% to $153 million or, in rand terms, 43% to R1.6
billion
... and for the year

Headline earnings (before unrealised hedging activities) up 13% to $286
million (or 43% to R2,536 million) despite gold production reducing 4%,
largely due to the sale of Elandsrand and Deelkraal
Total cash costs down 16% to $178/oz

Operating profit up 12% to $522 million or, in rand terms, 41% to R4,617
million
Africa region increases production by 137%

Final dividend of R11, giving a total dividend for the year of R18 and a
yield of 4.7% at R468 per share which converts to a dividend of $0.48 per
ADR, using an illustrative exchange rate of R11,495 to the dollar - the rate
on 30 January 2002

Commenting on AngloGold's operating results for the quarter, Chairman and
CEO Bobby Godsell said these were pleasing overall.  Although gold

production was 4% down for the quarter to 1.7 million ounces, well contained
costs and a higher gold price, both assisted by the currency devaluation
over the quarter, had lifted AngloGold's operating profit by 13% to $153
million, or 43% to R1.6 billion.  Headline earnings (before unrealised
hedging activities), in dollar terms, were up 16% to $88 million and, in
local currency terms, had increased by 45% to R924 million. "This good
performance has yielded returns on net capital employed and shareholders'
equity for the quarter of 16% and 20% respectively, putting the company well
on track to meet its own ambitious returns targets," he commented.

AngloGold's final dividend for the year of R11 per share represented an
annualised dividend yield of 4.7%, based on a share price of R468.  This was
consistent with the company's established practice of paying most of the
company's earnings back to shareholders after allowing for organic growth,
he noted.

Summarising the company's performance in 2001, Godsell said: "AngloGold
produced strong earnings in the first three quarters of 2001, creating a
tough base line for quarter four.  Nearly half of this company's earnings
now come from outside of South Africa, and are therefore unaffected by the
rand/dollar exchange rate.   Seen in this light, the improved earnings and
returns achieved in the fourth quarter represent an impressive performance."
Looking to the future, he said that AngloGold was committed to becoming the
gold investment vehicle of choice.  In pursuit of this objective the company
would be following a six-part strategy in which it would be:
driving the company down the cost curve;
seeking organic growth;

expanding existing operations through brownfields exploration;

finding new ounces through greenfields exploration;
acquiring new assets; and
moving down the gold value chain.
ends

For the complete Report for the Quarter and Year 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-looking statements, refer to the Company's annual report
on the Form 20-F for the year ended 31 December 2000 which was filed with
the Securities and Exchange Commission on 23 April 2001.
CORPORATE COMMUNICATIONS DEPARTMENT
16th FLOOR, 11 DIAGONAL STREET
JOHANNESBURG 2001
TELEPHONE: (+27 11) 637-6385
FAX: (+27 11) 637-6399/6400