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HARMONY ACQUIRES STAKE IN HIGH RIVER GOLD MINES LTD.

Release Date: 11/11/2002 12:03:32      Code(s): HAR
HARMONY ACQUIRES STAKE IN HIGH RIVER GOLD MINES LTD.                            
Harmony Gold Mining  Company Limited ("Harmony")                                
Johannesburg - 11 November 2002 - Harmony Gold Mining  Company Limited          
("Harmony") (NASDAQ: HGMCY) today                                               
announced that it has entered into a share purchase agreement with Jipangu Inc. 
to acquire 17 074 861 common shares of High River Gold Mines Limited ("High     
River") representing an approximate 21% interest in the issued share capital of 
the company. The transaction is scheduled to close on 22 November 2002. High    
River (TSE:HRG) is a Toronto based company with gold interests in Russia, Canada
and West Africa.                                                                
The price payable is US$0.85 per High River Gold share which represents an      
approximate 16% discount on the weighted average share price for the 30 day     
trading period prior to the execution of the agreement. The total purchase      
consideration amounts to US$14.5 million (R145 million).                        
The principle assets of High River Gold are:                                    
* a 53% fully diluted equity interest in OJSC Buryatzoloto - the 5th largest    
gold producer in Russia, with two operating mines producing a total of          
approximately 150 000 oz per year.                                              
As at the end of 2001 Buryatzoloto reported reserves and resources of 1.4       
million ounces and 5.3 million ounces                                           
respectively.                                                                   
* an agreement to acquire a 100% interest in the Berezitovoye                   
      Project situated in Siberia, Russia. The Berezitovoye deposit             
Ends                                                                            
Issued by Harmony Gold Mining Company Limited                                   
11 November 2002                                                                
For more details contact:                                                       
Bernard Swanepoel                                                               
on +27(0)83  303 9922                                                           
or                                                                              
Ferdi Dippenaar                                                                 
on +27(0)82 807 3684                                                            
Investor Relations                                                              
Corn Bobbert                                                                   
Tel +27 11 684 0146                                                             
Fax +27 11 684 0188 Mobile +27(0)83 380 6614                                    
E-mail: cbobbert@harmony.co.za                                                  
Web site:                                                                       
www.harmony.co.za                                                               
ISIN No.:      ZAE000015228                                                     
JSE:           HAR                                                              
NASDAQ:        HGMCY                                                            
Date: 11/11/2002 12:03:20 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             



                                        
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