Anglogold To Hold A Position In Queenstake Upon Closing Of The Sale Of The

Anglogold To Hold A Position In Queenstake Upon Closing Of The Sale Of The      
Jerritt Canyon Joint Venture                                                    
AngloGold Limited                                                               
(Incorporated in the Republic of South Africa)                               
   (Registration Number: 1944/017354/06)                                        
   ISIN Number: ZAE000043485                                                    
   JSE Share Code: ANG                                                          
ANGLOGOLD TO HOLD A POSITION IN QUEENSTAKE UPON CLOSING                         
OF THE SALE OF THE JERRITT CANYON JOINT VENTURE                                 
   New York - June 3, 2003 - AngloGold (NYSE:AU) today announced, further to its
June 2, 2003 announcement regarding the sale of  AngloGold"s interests in the   
Jerritt Canyon Joint Venture to Queenstake Resources U.S.A. Inc., a subsidiary  
of Queenstake Resources Ltd., that upon closing of the transaction, AngloGold   
may beneficially own more than 10% in the outstanding stock of Queenstake       
Resources Ltd.  Queenstake has announced its intention to finance this purchase 
in part by a $15 to $20 million brokered equity financing.  The closing of the  
Jerritt Canyon transaction is scheduled for June 25, 2003, at which time        
Queenstake will issue to AngloGold"s subsidiary, AngloGold (Jerritt Canyon)     
Corp., 22,400,000 common shares of  Queenstake Resources Ltd.  Based on the     
current market price of Queenstake"s common shares, the shares acquired by      
AngloGold will represent, between approximately 10.3% and 11.8% (undiluted) of  
the outstanding shares after giving effect to the financing.  AngloGold does not
currently have any intention to acquire additional shares of Queenstake;        
depending, however, on the market price of Queenstake shares, general economic  
and industry conditions and other factors, and subject to applicable securities 
laws, AngloGold may either sell its shares of Queenstake or acquire additional  
shares.                                                                         
All dollar figures herein are expressed in U.S. dollars.                     
ENDS                                                                            
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 Form 20-F for the   
year ended December 31, 2002, which was filed with the Securities and Exchange  
Commission on April 7, 2003.                                                    
Date: 04/06/2003 08:00:09 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department