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AFLEASE GOLD AND URANIUM RESOURCES LIMITED - AFLEASE TO ACQUIRE THE RIGHTS TO HARMONY"S URANIUM Aflease Gold and Uranium Resources Limited (Formerly The Afrikander Lease Limited) (Incorporated in the Republic of South Africa) (Registration number 1921/006955/06) Share code: AFL ISIN: ZAE000000253 ("Aflease") Aflease to acquire the rights to Harmony"s uranium Investec Bank Limited is authorised to announce that Aflease has entered into an agreement in principle with Harmony Gold Mining Company Limited ("Harmony") whereby Aflease will acquire the right to mine, process and market all of Harmony"s uranium ("the proposed transaction"). This resource is estimated to consist of 155 million lbs U3O8 of high grade dump and tailings material, which could start producing uranium in about 2 years. A further 145 million lbs U3O8 low grade tailings has also been delineated as a future target. The Harmony uranium deposits are situated predominately to the west of Johannesburg and in the Free State province. These rights have been acquired for R200 million and payment to Harmony would be by way of Aflease scrip. In addition Harmony will receive a royalty as and when these resources are brought to account Neal Froneman, chief executive officer of Aflease, said: "By acquiring Harmony"s uranium interests, Aflease will now have a uranium resource of more than 600 million lbs." "This firmly places Aflease among the top 10 international uranium companies." "We are very pleased to be part of a long term relationship like this. It will create value for both Aflease and Harmony." "There is huge window of opportunity for producers that can bring uranium production on stream within the next five years." "We, in Aflease, plan to seize that opportunity with both hands." The transaction is subject to the drawing up of a detailed agreement, normal regulatory approvals, various levels of due diligence, and the approval of the boards of both companies. Shareholders will be kept fully informed of developments. Cautionary announcement The proposed transaction, if successfully concluded, may have an effect on the market price at which Aflease"s shares trade. Aflease shareholders are accordingly advised to exercise caution in dealing in their Aflease shares until a further detailed announcement is made. Johannesburg 3 February 2004 Corporate advisor to the Sponsor transaction Investec Corporate Finance Nedbank Date: 03/02/2005 10:04:30 AM Supplied by www.sharenet.co.za Produced by the JSE SENS Department
