Anglogold Limited - Anglogold enters into purchase and sale agreement on Jerritt

Anglogold Limited - Anglogold enters into purchase and sale agreement on Jerritt
                    Canyon joint venture                                        
Anglogold Limited                                                               
Share Code:    ANG                                                              
ISIN:          ZAE000043485                                                     
ANGLOGOLD ENTERS INTO PURCHASE AND SALE AGREEMENT ON JERRITT CANYON JOINT       
VENTURE                                                                         
New York - February 27, 2003 - AngloGold (NYSE:AU) today announced that it has  
entered into a purchase and sale agreement with Queenstake Resources U.S.A. Inc.
on its interests in the Jerritt Canyon Joint Venture. This follows an           
unsolicited offer by Queenstake to the Jerritt Canyon joint venture partners.   
AngloGold owns 70% of the joint venture and is the operator and managing partner
of the Jerritt Canyon mine. In terms of the agreement, Queenstake will pay the  
Jerritt Canyon Joint Venture $8 million on closing, with $6 million in deferred 
payments, with additional royalty payments. Queenstake will accept full closure 
and reclamation and other liabilities. The transaction is expected to close no  
later than March 31, 2003.                                                      
For the year ended December 31, 2002, Jerritt Canyon produced 237,000           
attributable ounces of gold at a total cash cost of $249 per ounce.             
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 for the year   
ended December 31, 2001 which was filed with the Securities and Exchange        
Commission on June 28, 2002.                                                    
North American investor relations contact:                                      
Charles Carter                                                                  
cecarter@anglogold.com                                                          
Telephone: (800) 417-9255 or (212) 750-7999                                     
Fax: (212) 750-5626                                                             
www.anglogold.com                                                               
Date: 28/02/2003 07:55:15 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department