GOLD FIELDS LIMITED - The Gold Fields Board reports on the conclusion of its examination into the BEE transaction related to South Deep

The Gold Fields Board reports on the conclusion of its examination into the BEE transaction related to South Deep

Gold Fields Limited
(Reg. No. 1968/004880/06)
(Incorporated in the Republic of South Africa)
(“Gold Fields” or “the Company”)

JSE, NYSE, DIFX Share Code: GFI
ISIN Code:     ZAE000018123

STATEMENT BY GOLD FIELDS BOARD
THE BOARD OF GOLD FIELDS LIMITED REPORTS THE CONCLUSION OF ITS
EXAMINATION INTO THE BLACK ECONOMIC EMPOWERMENT TRANSACTION
RELATED TO GOLD FIELDS' SOUTH DEEP OPERATIONS

Johannesburg, 22 August 2013.   The Board of Directors of Gold
Fields Limited reports that it has concluded its examination of
the Black Economic Empowerment (BEE) transaction related to Gold
Fields’ South Deep operations.

Following extensive deliberations and careful consideration of
the   matter,   which   included   a   comprehensive independent
investigation and the receipt of advice from external legal
counsel, the Board continues to believe that the BEE transaction
is one of lasting benefit to the Company and its BEE
stakeholders.   However, the Board's examination has highlighted
that the implementation of the transaction did not consistently
meet the high standards set by Gold Fields.

In particular, the Board has identified areas that require
further attention where internal policies and procedures can be
strengthened. These include policies and procedures designed to
increase transparency and improve the timeliness of internal
communications between management and the Board.

The Board has communicated its concerns to the      Chief Executive
Officer (CEO) and, in recognition of the concerns   which have been
generated around the BEE transaction relating to    South Deep, CEO
Nick Holland has offered to waive his bonus in       respect of the
2013 financial year end.

The Board continues to have full confidence in Nick and is
determined to work with him and the other members of Gold Fields
management to design and implement any necessary changes and to
ensure that any policies and procedures result in improved
oversight and are rigorously followed by Gold Fields management
and other employees, as well as by any agents or third parties
working on behalf of Gold Fields.

The Board is pleased that this matter has now been concluded and
that the Company can move forward in operating its business for
the benefit of all stakeholders.

22 August 2013
Sponsor:
J.P. Morgan Equities South Africa (Pty) Ltd

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