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AVGOLD/ HARMONY - RESULTS OF THE SCHEME MEETING

Release Date: 03/05/2004 14:23:01      Code(s): AVG HAR
AVGOLD/ HARMONY - RESULTS OF THE SCHEME MEETING                                 
Avgold Limited                                                                  
(Registration number 1990/007025/06)                                            
(Incorporated in the Republic of South Africa)                                  
JSE share code: AVG                                                             
ISIN: ZAE000012175                                                              
("Avgold")                                                                      
Harmony Gold Mining Company Limited                                             
(Registration number 1950/038232/06)                                            
(Incorporated in the Republic of South Africa)                                  
JSE share code: HAR                                                             
ISIN: ZAE000015228                                                              
("Harmony")                                                                     
RESULTS OF THE SCHEME MEETING                                                   
1.   Results Of The Scheme Meeting                                              
Shareholders of Avgold and Harmony (collectively "shareholders") are       
     referred to the announcement dated 26 March 2004 in which shareholders were
     advised that Harmony wishes to acquire 100% of the issued share capital of 
     Avgold and has therefore proposed a scheme of arrangement ("the scheme") in
terms of section 311 of the Companies Act 61 of 1973, as amended, ("the    
     Act"), between Avgold and its shareholders, other than Harmony and its     
     subsidiaries, to acquire all the Avgold shares other than those held by    
     Harmony.                                                                   
Shareholders are advised that at the scheme meeting held today, the scheme 
     was approved with 96.91% of Avgold scheme members present or represented at
     the scheme meeting having voted in favour of the scheme.                   
2.   Conditions Precedent                                                       
The implementation of the scheme is still subject to the following         
     conditions precedent:                                                      
     *    the scheme being sanctioned by the High Court of South Africa         
          (Transvaal Provincial Division); and                                  
*    a certified copy of the Order of Court sanctioning the scheme being   
          duly registered by the Registrar of Companies in terms of the Act.    
3.   Further Announcement                                                       
     A further announcement regarding the fulfilment of the remaining conditions
precedent and the salient dates for the implementation of the scheme will  
     be made in due course.                                                     
Johannesburg                                                                    
3 May 2004                                                                      
Independent advisor and sponsor to Avgold:                                      
Merrill Lynch South Africa (Pty) Limited                                        
Attorneys to Avgold:                                                            
Deneys Reitz Inc.                                                               
Reporting accountants:                                                          
PricewaterhouseCoopers Inc.                                                     
Independent technical advisor:                                                  
Steffen, Robertson and Kirsten                                                  
Financial advisor to Harmony:                                                   
JP Morgan Chase Bank                                                            
Sponsor to Harmony:                                                             
JP Morgan Equities Limited                                                      
Attorneys to Harmony:                                                           
Cliffe Dekker Inc.                                                              
Date: 03/05/2004 02:23:05 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             
                                                                                
                                                                                
                                                                                



                                        
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