HARMONY LAUNCH NEW RANGE OF INVESTMENT BARS
Harmony Gold Mining Company Limited
Share code: HAR
Johannesburg - 11 April 2003 - Harmony Gold Mining Company Limited (NYSE: HMY:
JSE: HAR) today launched its new range of gold investment bars, in addition to
its popular ten-tola bar, introduced to the investment community in 1999.
Prudent investors will now have the opportunity to diversify their portfolio
risk by investing a portion of their capital in physical gold.
Harmony is the only major producer that refines and sells its own branded gold.
The 116.7g Harmony ten-tola bar produced to 99.9% purity which had been
successfully marketed in India, will now be complimented with a newly designed
`120 bar", at 120g in weight. Harmony recognised the opportunity to introduce a
new gold investment bar, as a result of amended tax regulation in India, aimed
at incentivising the production of metric measurements and numbered bars.
Aside from achieving the mentioned objectives, the bar has been designed
involving intricate detail to further enhance its uniqueness, and is
manufactured utilising Harmony high precision casting technology.
In addition to the `120 bar" Harmony is also introducing the first of it"s
unique wrought gold investment bars and medallions to be offered on sale to the
These gold investment products incorporate a number of distinguishing features
a professional design and unique high precision casting manufacturing method.
Each item is hand finished & polished.
South African law previously classified the Harmony ten-tola bar as an unwrought
precious metal and therefor South African citizens were prohibited from owing it
as per the Mining Rights Act of 1967.
`Harmony will only manufacture a limited edition of these bars and medallions,
thus enhancing its uniqueness and investment value. South Africans have for too
long been denied the opportunity to own physical gold investment products. In a
volatile currency environment like South Africa, gold as a Dollar denominated
investment serves as an effective hedge against the Rand," said Ferdi Dippenaar,
Harmony Marketing Director.
The first range of investment bars on offer is the `Two Oceans" series which
will be on offer from Monday 14 April 2003 to coincide with the Two Oceans
Marathon on Saturday April 19th in Cape Town.
The limited product range on offer consist of 6 items, all of 99.99% purity:
1 ounce wrought gold investment bars 1 000 units
1/2 ounce wrought gold investment bars 2 000 units
1/4 ounce wrought gold investment bars 4 000 units
1 ounce wrought gold medallion 1 000 units
1/2 ounce wrought gold medallion 1 000 units
1/4 ounce wrought gold medallion 1 000 units
"The fact that these items are of a limited edition which involve a detailed
design and quality workmanship, and furthermore has its purity ensured by being
manufactured from Harmony Pure Gold, allow for these items to be worth more than
their weight in gold," he concluded.
For more details contact:
On +27(0)82 807 3684
Investor Relations Officer
Tel +27 11 684 0416
Fax +27 11 684 0188
MOBILE +27(0)83 380 6614
ISIN No.: ZAE000015228
ISIN No.: ZAE000031209