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ANGLOGOLD LIMITED - ANGLOGOLD REPORTS ANOTHER SOUND QUARTER News Release ANGLOGOLD LIMITED (Incorporated in the Republic of South Africa) (Registration Number: 1944/017354/06) ISIN Number:ZAE000014601 JSE Share Code: ANG NYSE Ticker: AU Results for the quarter and six months ended 30 June 2002 ANGLOGOLD REPORTS ANOTHER SOUND QUARTER Key features for the quarter Hedge book reduced by a further 2.4Moz (165% of quarter`s production) to 10.5Moz Operating profit up 10% to $162m Headline earnings marginally lower at $87m Production up 4% to 1.4Moz despite seismic events at Great Noligwa Strengthening rand contributes to 7% ($10/oz) increase in total cash costs to $161/oz for the six months Operating profit up 31% to $309m Headline earnings up 44% to $176m Total cash costs down 17% to $156/oz Interim dividend of R13.50/share ($0.66/ADS) giving an annualised yield of 6.6% AngloGold CEO Bobby Godsell said the quarter has again seen a significant reduction in the company`s hedge book, which came down a further 2.4 million ounces, following the 1.7 million ounce reduction reported in the first quarter this year. "The hedge has been reduced in the light of the more positive medium- and long- term prospects for the gold price, as well as the improved margins and lower cost base of AngloGold`s production," he explained. The quarter also saw continued strong operational performance, with operating profit up 10% to $162 million, net profit up 11% to $79 million and headline earnings marginally lower at 79 US cents per share. Referring to the new minerals legislation in South Africa, he said: "Mineral rights will now be leased from the State rather than owned outright and will require a commitment to black economic empowerment and social development. AngloGold supports both of these broad policy objectives although they must be achieved in a responsible way. In a joint statement issued yesterday with the mining industry and trade unions, the Department of Minerals and Energy confirmed that the draft charter, which was leaked last week, does not represent official government policy." Commenting on the $90 million acquisition of an increased stake in the Cerro Vanguardia mine in Argentina announced yesterday, he noted that this would deliver an additional 130,000 ounces a year and pointed out that this operation had achieved total cash costs of $101 per ounce for the first six months of 2002. ends For a full copy of the quarterly results, please visit the AngloGold website: www.anglogold.com Queries: In South Tel: Mobile: E-mail: Africa Steve Lenahan +27 11 637 6248 +27 83 308 2200 slenahan@anglogold.com Shelagh +27 11 637 6379 +27 83 308 2471 skblackman@anglogold.co Blackman m In the UK / Europe Tomasz +41 22 718 3312 +41 79 345 9774 tnadrowski@anglogold.co Nadrowski m Alex Buck +44 20 7664 8712 +44 7932 2740 452 abuck@anglogold.com In the USA Charles Carter (Toll free) 800 ccarter@anglogold.com 417 9255 +1 212 750 7999 In Australia Andrea Maxey +61 8 9425 4604 +61 438 001 393 amaxey@anglogold.com.au Date: 31/07/2002 08:02:10 AM Supplied by www.sharenet.co.za Produced by the JSE SENS Department
