DEALINGS IN SECURITIES BY DIRECTORS OF ANGLOGOLD LIMITED IN TERMS OF THE

DEALINGS IN SECURITIES BY DIRECTORS OF ANGLOGOLD LIMITED IN TERMS OF THE        
ANGLOGOLD SHARE INCENTIVE SCHEME                                                
ANGLOGOLD LIMITED                                                               
(Registration number 1944/017354/06)                                            
(Incorporated in the Republic of South Africa)                                  
("AngloGold")                                                                   
ISIN: ZAE000043485    JSE Share code: ANG                                       
DEALINGS IN SECURITIES BY DIRECTORS OF ANGLOGOLD LIMITED IN TERMS OF THE        
ANGLOGOLD SHARE INCENTIVE SCHEME                                                
In terms of JSE Listings Requirement 3.63 we give notice that the following     
directors have exercised share options, after having received clearance to do so
in terms of Listings Requirement 3.66.  The options were granted in terms of the
AngloGold Share Incentive Scheme.  This resulted in the following ordinary      
shares of the company having been allotted and traded on the JSE:               
Details                                                                         
J G Best                       D L Hodgson              

Date exercised and sold                                                         
                        13 November 2003               13 November 2003         
Type of interest                                                                
Beneficial                     Beneficial               

Number of shares                                                                
                        25,800                         9,600                    
Date options granted                                                            
31 August 1998 and 16          16 February 1998 and 03  

                        February 1998                  July 1997                
Vesting period                                                                  
                        Over a 5 year period           Over a 5 year period     
Option exercise price   6,200 options at R108.00                                
                        19,600 options at R104.00      R104.00                  
Sale price   (average)                                                          
                        R296.1125                      R296.1828                
% of total shares in                                                            
issue                   0.011568145                    0.004304426              
17 November 2003                                                                
Sponsor                                                                         
UBS                                                                             
Date: 17/11/2003 05:56:02 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department