Anglogold Will Not Increase Its Offer

Anglgold Limited
Press release

Newmont has raised objections to the Takeovers Panel in Australia regarding
certain aspects of AngloGold's notice extending the offer period in its bid
for Normandy.

Following discussions with the Panel, AngloGold has today confirmed that its
offer for Normandy will not be increased.

AngloGold's Chairman and CEO, Bobby Godsell said: "Our offer will not be
increased. We have been very disciplined and taken great care to justify our
previous increases, but there is no basis on which we could justify a
further increase in the offer. The market has already judged AngloGold's
offer to be a full and fair price."

In AngloGold's 11 January 2002 press release, it stated that Newmont's stock
price had fallen by 11% since AngloGold announced its bid for Normandy (on 5
September 2001). In fact, the Newmont stock price has fallen by 10% compared
to the price immediately before Newmont, not AngloGold, announced its bid
for Normandy (on 14 November 2001).

AngloGold's offer is open and available for immediate acceptance, with
payment within three days of acceptance. The offer is scheduled to close at
19:00 Sydney time on Friday, 18 January 2001.
www.anglogold.com
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