ANG - Anglogold Ashanti Does Not Recommend Or Endorse Below-Market Mini-Tender

ANG - Anglogold Ashanti Does Not Recommend Or Endorse Below-Market Mini-Tender  
                   Offer From TRC Capital                                       
AngloGold Ashanti Limited                                                       
Incorporated in the Republic of South Africa                                    
Registration Number: 1944/017354/06)                                            
ISIN Number: ZAE000043485                                                       
JSE Share Code: ANG                                                             
("AngloGold Ashanti/Company")                                                   
ANGLOGOLD ASHANTI DOES NOT RECOMMEND OR ENDORSE BELOW-MARKET MINI-TENDER OFFER  
FROM TRC CAPITAL                                                                
  Johannesburg, South Africa, October 17, 2008 - AngloGold Ashanti announced    
today that it has been notified of an unsolicited below-market "mini-tender     
offer" by TRC Capital Corporation of Toronto, Canada to purchase up to 4,000,000
American depositary shares ("ADSs") of AngloGold Ashanti Limited (each of which 
represents one ordinary share), representing approximately 1.14% of AngloGold   
Ashanti`s outstanding share capital, at a price of US$18.00 per ADS. AngloGold  
Ashanti cautions shareholders that this offer represented a 2.65% discount to   
the US$18.49 closing price of ADSs on the New York Stock Exchange on October 15,
2008, the day prior to the date of the offer and a 2.39% discount to the        
US$18.44 closing price of ADSs on October 16, 2008.                             
  AngloGold Ashanti recommends against ADS holders tendering their ADSs in      
response to this unsolicited mini-tender offer.  AngloGold Ashanti also notes   
that it is in no way associated with TRC Capital, the offer or the offer        
documentation. TRC Capital`s offer is subject to numerous conditions, including 
there being no decrease in the market price of AngloGold Ashanti`s ADSs or      
ordinary shares and TRC Capital obtaining sufficient financing to consummate the
offer on terms acceptable to TRC Capital.  There is no assurance that the       
conditions to the offer will be satisfied.                                      
  AngloGold Ashanti shareholders are cautioned that TRC Capital has made a      
multitude of below-market mini-tender offers for the shares of other companies  
for its profit.  Mini-tender offers such as this one by TRC Capital are devised 
to seek less than five percent of a company`s shares thereby avoiding many of   
the disclosure and procedural requirements of the United States Securities and  
Exchange Commission (the "SEC") that are applicable to larger tender offers.    
  The SEC has issued an investor alert regarding mini-tender offers, noting     
that "some bidders make mini-tender offers at below market prices, hoping that  
they will catch investors off guard if the investors do not compare the offer   
price to the current market price."  The SEC`s publication on this topic can be 
found at www.sec.gov/investor/pubs/minitend.htm.                                
AngloGold Ashanti urges investors to obtain current market quotations for     
their ADSs, to consult with their financial advisors and to exercise caution    
with respect to TRC Capital`s offer.                                            
  AngloGold Ashanti ADS holders who have tendered their ADSs into TRC Capital`s 
offer are advised that they may withdraw their ADSs as described in TRC         
Capital`s offer to purchase by providing written notice to the receiving agent  
for the offer prior to the expiration of the offer, which is currently scheduled
to occur at 12:01 a.m., New York City time, on Friday, November 14, 2008, but   
may be extended by TRC Capital.                                                 
  AngloGold Ashanti also refers broker-dealers and other market participants in 
the dissemination of the offer to the SEC`s recommendations to broker/dealers in
these circumstances, which can be found at                                      
www.sec.gov/divisions/marketreg/minitenders/sia072401.htm, and to Information   
Memo Number 01-27 issued by the New York Stock Exchange on September 28, 2001,  
regarding dissemination of mini-tender offer materials, which can be found under
the "Market Professionals - Information Memos" tab on the NYSE`s website at     
www.nyse.com.                                                                   
  ENDS                                                                          
  17 October 2008                                                               
  JSE Sponsor - UBS                                                             
Queries                                                                         
South Africa                                                                    
Himesh Persotam (Investor Relations)  Tel:  +27(0)11637-6647                    
  Mobile:  +27(0)82 339 3890  E-mail:hpersotam@AngloGoldAshanti.com             
Alan Fine (Media)  Tel:+27(0)11 637-6383  Mobile:+27(0)83 250 0757              
  E-mail:afine@AngloGoldAshanti.com                                             
Joanne Jones (Media)  Tel:+27(0)11 637- 6813  Mobile:+27(0)82 896 0306          
  E-mail:jjones@AngloGoldAshanti.com                                            
Certain statements made in 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 on Form 20-F for the year ended      
December 31, 2007,which was filed with the Securities and Exchange Commission on
May 19, 2008.  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.                                                                         
Date: 17/10/2008 13:42:02 Supplied by www.sharenet.co.za                     
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