ANGLOGOLD ASHANTI LIMITED - AngloGold Ashanti Announces Changes to the Board of Directors

AngloGold Ashanti Announces Changes to the Board of Directors

AngloGold Ashanti Limited
(Incorporated in the Republic of South Africa) 
Reg. No. 1944/017354/06)
ISIN No. ZAE000043485 – JSE share code: ANG 
CUSIP: 035128206 – NYSE share code: AU

News Release
17 February, 2014

AngloGold Ashanti Announces Changes to the Board of Directors

(ANGLOGOLD ASHANTI – Press Release) AngloGold Ashanti announces that as a
result of his increasing portfolio of professional commitments, Mr. Tito Mboweni has
decided not to stand for re-election as Non-Executive Director at the Annual General
Meeting to be held in May, 2014. Mr. Mboweni has stood down as Chairman today,
but to ensure a smooth transition has agreed to work closely with the new Chairman,
Mr. Sipho Pityana, who was elected unanimously by the Board today.

Mr. Pityana, a non-executive director of AngloGold Ashanti for the past seven years,
is also the chairperson of the company’s Safety, Health and Environment Committee
and a member of other Board committees.

“I am honoured to follow Mr Mboweni as Chairman of AngloGold Ashanti,” Mr
Pityana said. “I will work closely with him over the coming months to ensure a
seamless handover.”

Professor Wiseman Nkuhlu, who has served on the Board since August 2006, and is
currently Chairman of the Audit and Corporate Governance committee, will assume
the new role of Lead Independent Director of the Board. Professor Nkuhlu also
serves on a number of other Board committees.

Mr Mboweni’s decision to step down comes after a period of sustained improvement
from AngloGold Ashanti, which has rebased its cost structure in response to a
dramatically lower gold price, whilst improving the quality of its asset base with the
commissioning of two new gold mines, together with selected asset disposals.

“I leave AngloGold Ashanti as a fundamentally stronger, stable and focused
business,” Mr Mboweni said. “It’s been a privilege to help establish such a firm
foundation for the company alongside an accomplished executive team and an
experienced board, all of whom continue to work diligently in the best interests of the
business. I am pleased that Mr Pityana is succeeding me in this role and I wish him
the very best.”
AngloGold Ashanti’s Board of Directors and members of the Executive Committee
would like to wish Mr Mboweni well in his future endeavours and thank him for his
service over the past four years. Mr Mboweni’s guidance has been invaluable,
particularly in navigating a time of intensive restructuring and refocus, given the
sharp drop in the gold price, and in helping facilitate the smooth transition in
executive leadership in early 2013.

“Mr Mboweni has overseen the transition of leadership at AngloGold Ashanti during a
challenging business environment,” Chief Executive Officer Srinivasan
Venkatakrishnan (Venkat) said. “I’d like to thank him for his contribution to AngloGold
Ashanti, and on behalf of the Executive Committee, wish him all success in his future
endeavours.”

Speaking about the incoming Chairman, Venkat said: “Mr. Pityana, in addition to
leading our safety and sustainability focus on the Board with distinction has a deep
understanding of all other aspects of the business. He is fully supportive of our
strategy to generate growth in free cash flow as we continue to lift the company’s
performance, and brings to the role considerable broad experience and vision. We
look forward to working with Mr. Pityana in his new role as the Chairman of the
Board”.

Further Information

MR TT MBOWENI

BA (National University of Lesotho), MA - Development Economics (University of
East Anglia, Norwich, UK)

Independent Non-Executive Director

Tito Mboweni was appointed to the board and as Chairman of AngloGold Ashanti on
1 June 2010. He is chairperson of the Nominations Committee and is a member of
the Investment, Remuneration and Human Resources, Financial Analysis and Party
Political Donations committees. He has a long and outstanding record of public
service. As Labour Minister from 1994 to 1998, Mr Mboweni was the architect of
South Africa’s post-apartheid labour legislation which today continues to provide the
basis for the mutually respectful labour relationships central to AngloGold Ashanti’s
operational approach in South Africa. He was the eighth Governor of the South
African Reserve Bank from 1999 to 2009, and Chancellor of the University of the
North from 2002 to 2005. He is also non-executive chairman of Nampak Limited and
SacOil Holding Ltd., a non-executive director of Discovery Ltd. and an international
adviser to Goldman Sachs. Mr Mboweni is a founder member of Mboweni Brothers
Investment Holdings. He is also chairman of the fund raising committee of the
Nelson Mandela Children’s Hospital and a trustee and is a member of the council of
advisers of the Thabo Mbeki Foundation.


MR SM PITYANA
BA (Hons) (Essex), MSc (London); Dtech (Honoris)(Vaal University of Technology)

Chairman and Non-Executive Director

Sipho Mila Pityana is a senior director having joined the board of AngloGold Ashanti
in February 2007. He is the chairman of the Safety, Health and Environment
Committee. During his tenure the company has made tremendous progress in all
these aspects of its SHE work, bringing workplace fatalities from 34 in 2007 to eight
in 2013, with all injuries showing a similar marked decline. Critical health
programmes including those dealing with TB, HIV/AIDS and Malaria received
focused attention under his guidance, resulting in reduced incidence of these
diseases. He was previously the Chairman of the Board’s Remuneration Committee
as well as the Sustainability Committee.

Mr Pityana has extensive business experience having served in both an executive
and non-executive capacity on several JSE listed boards of companies as well as
running his own company which he chairs, Izingwe Capital. He is Chairman of the
JSE listed Onelogix and of Munich Reinsurance of Africa. He also served on the
boards of Bytes Technology Group, AFROX, SPESCOM and the Old Mutual
Leadership Group. He previously worked as the Executive Director of Nedcor
Investment Bank and Managing Director of Nedbank. He is also a director of a
number of manufacturing companies including Scaw Metals and Aberdare Cables.

In addition to his private sector track record, Mr Pityana has extensive public sector
experience and international exposure. He was the first Director General of
Department of Labour in a democratic South Africa. As the Foreign Affairs Director
General he represented South Africa in various international fora including the
United Nations, African Union, Commonwealth and the International Labour
Organisation. He was one of the founding members of the governing body of the
CCMA and Convenor of the government delegation to NEDLAC.

PROF LW NKUHLU

BCom, CA (SA), MBA (New York University)

Independent Lead Director

Wiseman Nkuhlu was appointed to the board on 4 August 2006. He is the chairman
of the Audit and Corporate Governance Committee and also serves as a member of
the Financial Analysis; Risk and Information Integrity; Safety, Health and Sustainable
Development; Nominations, Party Political Donations; and the Remuneration and
Human Resources committees. Prof Nkuhlu, a respected South African academic,
educationist, professional and business leader, served as Economic Adviser to the
former President of South Africa, Mr Thabo Mbeki, and as Chief Executive of the
Secretariat of the New Partnership for Africa's Development (NEPAD) from 2000 to
2005. From 1989 to 2000, he served as a director on a number of major South
African companies, including Standard Bank, South African Breweries, Old Mutual,
Tongaat Hulett, BMW and JCI. Prof Nkuhlu was President of the South African
Institute of Chartered Accountants from 1998 to 2000 and Principal and Vice
Chancellor of the University of Transkei from 1987 to 1991. He is also a member of
the board of Datatec Limited. He was elected President of the Geneva-based
International Organization of Employers (IOE) in May 2008 for a period of two years.
He is a Trustee of the International Financial Accounting Standards Foundation.



ENDS

Sponsor: UBS South Africa (Pty) Ltd



Contacts

Media

Chris Nthite                     +27 (0) 11 637 6388/+27 (0) 83 301 2481                      cnthite@anglogoldashanti.com

Stewart Bailey                   +27 81 032 2563 / +27 11 637 6031                            sbailey@anglogoldashanti.com

General inquiries                                                                             media@anglogoldashanti.com

Investors

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Fundisa Mgidi (South Africa)     +27 11 6376763 / +27 82 821 5322                             fmgidi@anglogoldashanti.com

General inquiries                                                                         investors@anglogoldashanti.com


Certain statements contained in this document, other than statements of historical fact, including, without limitation, those
concerning the economic outlook for the gold mining industry, expectations regarding gold prices, production, cash costs, cost
savings and other operating results, return on equity, productivity improvements, growth prospects and outlook of AngloGold
Ashanti’s operations, individually or in the aggregate, including the achievement of project milestones, commencement and
completion of commercial operations of certain of AngloGold Ashanti’s exploration and production projects and the completion
of acquisitions and dispositions, AngloGold Ashanti’s liquidity and capital resources and capital expenditures and the outcome
and consequence of any potential or pending litigation or regulatory proceedings or environmental issues, are forward-looking
statements regarding AngloGold Ashanti’s operations, economic performance and financial condition. These forward-looking
statements or forecasts involve known and unknown risks, uncertainties and other factors that may cause AngloGold Ashanti’s
actual results, performance or achievements to differ materially from the anticipated results, performance or achievements
expressed or implied in these forward-looking statements. Although AngloGold Ashanti believes that the expectations reflected
in such forward-looking statements and forecasts are reasonable, no assurance can be given that such expectations will prove
to have been correct. Accordingly, results could differ materially from those set out in the forward-looking statements as a result
of, among other factors, changes in economic, social and political and market conditions, the success of business and
operating initiatives, changes in the regulatory environment and other government actions, including environmental approvals,
fluctuations in gold prices and exchange rates, the outcome of pending or future litigation proceedings, and business and
operational risk management. For a discussion of such risk factors, refer to the prospectus supplement to AngloGold Ashanti’s
prospectus dated 17 July 2012 that was filed with the United States Securities and Exchange Commission (“SEC”) on 26 July
2013. These factors are not necessarily all of the important factors that could cause AngloGold Ashanti’s actual results to differ
materially from those expressed in any forward-looking statements. Other unknown or unpredictable factors could also have
material adverse effects on future results. Consequently, readers are cautioned not to place undue reliance on forward-looking
statements. AngloGold Ashanti undertakes no obligation to update publicly or release any revisions to these forward-looking
statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except
to the extent required by applicable law. All subsequent written or oral forward-looking statements attributable to AngloGold
Ashanti or any person acting on its behalf are qualified by the cautionary statements herein.

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not as an alternative for, the reported operating results or cash flow from operations or any other measures of performance
prepared in accordance with IFRS. In addition, the presentation of these measures may not be comparable to similarly titled
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Investors should visit this website to obtain important information about AngloGold Ashanti.

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