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HARMONY GOLD MINING COMPANY LIMITED - LAUNCH OF CONVERTIBLE BOND - HARMONY GOLD

Release Date: 01/04/2004 07:58:12      Code(s): HAR
HARMONY GOLD MINING COMPANY LIMITED - LAUNCH OF CONVERTIBLE BOND - HARMONY GOLD 
MINING COMPANY LIMITED                                                          
31 March 2004                                                                   
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE
UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR TO US, CANADIAN, AUSTRALIAN OR     
JAPANESE PERSONS                                                                
Harmony Gold Mining Company Limited                                             
Incorporated in the Republic of South Africa                                    
(Registration number 1950/038232/06)                                            
Share Code: HAR ISIN:ZAE 000015228                                              
Convertible Bond Issue                                                          
Harmony Gold Mining Company Ltd ("Harmony") today announces that it intends to  
issue ZAR1,700 million (c.US$270 million) of convertible bonds (the "Bonds").   
The proceeds of the issue will be used primarily to refinance Harmony"s existing
South African Rand debt, hence benefiting from the attractive financing         
opportunities currently available in the convertible bond market.               
Terms of the Bonds                                                              
Subject to the terms and conditions of the Bonds, the Bonds will be issued by   
Harmony and will be convertible into approximately 14 million new Harmony       
ordinary shares (the "Shares"), representing approximately 5% of Harmony"s      
issued ordinary share capital. The Bonds will be denominated in Rand and will be
issued at 100% of their principal amount.  The coupon on the Bonds will be      
4.875% payable semi-annually in arrears and the conversion price will be ZAR121.
The Bonds are expected to settle on or about 21 May 2004. Applications will be  
made for the Bonds to be admitted to the Official List of the UK Listing        
Authority and to the London Stock Exchange plc"s market for listed securities.  
J.P. Morgan Securities Ltd. is the lead manager of the Bond issue.              
For further information please contact:                                         
Ferdi Dippenaar      Harmony              +27 82 807 3684                       
Ian Hannam           JPMorgan             +44 207 325                           
                                          1168                                  
Background Information                                                          
Harmony Gold Mining Company Limited                                             
Harmony is the largest gold producer in South Africa and the sixth largest gold 
producer in the world. Harmony is listed on stock exchanges in Johannesburg, New
York, London, Paris, Berlin and Brussels, and has a market capitalisation of    
approximately US$ 4.0 billion. Since becoming an independent mining company in  
1995, Harmony has implemented a successful strategy of delivering shareholder   
value by pursuing a focused strategy of growth through acquisitions. Harmony has
completed some 25 acquisitions, many of which have also provided the company    
with opportunities for significant organic growth. As at 30 June 2003, Harmony"s
mining operations in South Africa and Australia reported in aggregate total     
proven and probable reserves of approximately 61.9 million ounces, and a gold   
resource in excess of 410 million ounces.                                       
In the United Kingdom, this announcement is directed exclusively at persons who 
have professional experience in matters relating to investments who fall within 
Article 19 or 49 of the Financial Services and Markets Act 2000 (Financial      
Promotion) Order 2001. In the United Kingdom, the Bonds will only be issued to  
such persons.                                                                   
This announcement is not for distribution in or into the United States or to US 
persons. This announcement is not an offer of securities for sale in the United 
States or to US persons. The securities referred to herein may not be offered or
sold in the United States or to US persons unless they are registered under the 
US Securities Act of 1933 or exempt from registration. There will be no public  
offering of  the securities referred to herein in the United States.            
Date: 01/04/2004 07:58:14 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             
                                                                                
                                                                                
                                                                                



                                        
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