ANGLOGOLD - ACQUISITION

ANGLOGOLD LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 05/17354/06)
("ANGLOGOLD")

THE ACQUISITION BY ANGLOGOLD OF THE GOLD INTERESTS OF MINORCO

FURTHER TO THE ANNOUNCEMENT OF 24 DECEMBER 1998, MEMBERS OF ANGLOGOLD ARE
ADVISED THAT THE CIRCULAR GIVING DETAILS OF THE ACQUISITION, INCLUDING AN
INDEPENDENT TECHNICAL ADVISER'S REPORT AND CONTAINING A NOTICE OF A GENERAL
MEETING OF ANGLOGOLD MEMBERS, HAS BEEN POSTED TO MEMBERS TODAY. THE GENERAL
MEETING WILL BE HELD ON 3 FEBRUARY 1999 FOR THE PURPOSE OF CONSIDERING AND, IF
DEEMED FIT, APPROVING THE ACQUISITION.

MEMBERS ARE ALSO ADVISED THAT THE FINANCIAL EFFECT OF THE ACQUISITION ON THE
NET ASSET VALUE PER ORDINARY SHARE OF ANGLOGOLD HAS BEEN RE-EVALUATED AND
ADJUSTED BY THE IMPLEMENTATION OF THE SPECIAL RESOLUTION, RELATING TO THE
REDUCTION OF SHARE PREMIUM, AS SET OUT IN THE CIRCULAR TO MEMBERS OF ANGLOGOLD
DATED 6 MAY 1998, WHICH WAS SUBSEQUENTLY APPROVED AND SANCTIONED. THE

ACQUISITION HAS NO EFFECT ON THE REVISED NET ASSET VALUE PER SHARE OF R67,45
(US$13.87).
JOHANNESBURG
12 JANUARY 1999

CIRCULAR AVAILABLE ON INTERNET ADDRESS: HTTP://WWW.ANGLOGOLD.COM
FINANCIAL ADVISERS
GOLDMAN SACHS
(REGULATED IN THE UNITED KINGDOM
BY THE SECURITIES AND FUTURES AUTHORITY)
MERRILL LYNCH
(REGULATED IN THE UNITED KINGDOM
BY THE SECURITIES AND FUTURES AUTHORITY)
SPONSORING BROKER
MERRIL LYNCH
SMITH BORKUM HARE
MERRIL LYNCH SOUTH AFRICA (PTY) LTD
REGISTRATION NUMBER 95/01805/07
MEMBER OF THE JOHANNESBURG STOCK EXCHANGE
LEGAL ADVISERS
DENEYS REITZ
ATTORNEYS
SHERMAN AND STERLING