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HARMONY/ANGLOGOLD - SALE OF ELANDSRAND AND DEELKRAAL MINES TO HARMONY

Release Date: 01/02/2001 12:04:53      Code(s): HAR HARO ANG
HARMONY GOLD MINING COMPANY LIMITED
  (REGISTRATION NUMBER 1950/038232/06)
  (INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
  ("HARMONY")
ANGLOGOLD LIMITED
  (REGISTRATION NUMBER 1944/017354/06)
  (INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
  ("ANGLOGOLD")
SALE OF ELANDSRAND AND DEELKRAAL MINES TO HARMONY (THE "TRANSACTION")
NOTICE REGARDING THE FULFILMENT OF CERTAIN CONDITIONS PRECEDENT
FURTHER TO THE ANNOUNCEMENTS DATED 19 DECEMBER 2000, THE BOARDS OF DIRECTORS OF
HARMONY AND ANGLOGOLD ARE PLEASED TO ANNOUNCE THAT TWO OF THE KEY CONDITIONS
PRECEDENT TO THE TRANSACTION HAVE BEEN MET, NAMELY:
- THE CONCLUSION OF A FORMAL SALE AND PURCHASE AGREEMENT BETWEEN HARMONY AND
ANGLOGOLD; AND
- THE PROVISION BY HARMONY OF AN UNDERWRITTEN COMMITMENT FROM ITS BANKERS TO
FINANCE THE TRANSACTION.
THE TRANSACTION IS STILL SUBJECT TO THE FULFILMENT OF THE FOLLOWING CONDITIONS
PRECEDENT:
- APPROVAL OF THE TRANSACTION BY THE SHAREHOLDERS OF HARMONY IN GENERAL MEETING
- APPROVAL OF THE TRANSACTION BY THE COMPETITION AUTHORITIES;
- THE GRANTING OF THE NECESSARY MINING AUTHORISATIONS TO HARMONY; AND
- APPROVAL OF THE TRANSFER OF THE MINERAL RIGHTS AND CESSION OF THE MINING
LEASES BY THE MINISTER OF MINERALS AND ENERGY.
A CIRCULAR CONTAINING FULL DETAILS OF THE TRANSACTION AND CONVENING A GENERAL
MEETING OF HARMONY SHAREHOLDERS TO APPROVE THE TRANSACTION WILL BE POSTED TO
HARMONY SHAREHOLDERS ON OR ABOUT MONDAY 12 FEBRUARY 2001.
VIRGINIA & JOHANNESBURG
1 FEBRUARY 2001
JOINT CORPORATE ADVISERS TO HARMONY
  JP MORGAN
  BOE MERCHANT BANK
SPONSOR TO HARMONY
  JP MORGAN
SPONSOR TO ANGLOGOLD
  MERRILL LYNCH
LEGAL ADVISER TO HARMONY
  CDFM
LEGAL ADVISER TO ANGLOGOLD
  TABACKS INC.
REPORTING ACCOUNTANTS AND AUDITORS TO HARMONY
  PRICEWATERHOUSECOOPERS INC.



                                        
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