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Harmony - HARMONY CONCLUDES AVGOLD ACQUISITION AS ALL CONDITIONS PRECEDENT

Release Date: 11/05/2004 14:39:31      Code(s): HAR
Harmony -      HARMONY CONCLUDES AVGOLD ACQUISITION AS ALL CONDITIONS PRECEDENT 
               ARE MET                                                          
Harmony Gold Mining Company Limited                                             
JSE:          HAR                                                               
NYSE:       HMY                                                                 
ISIN No.:   ZAE000015228                                                        
HARMONY CONCLUDES AVGOLD ACQUISITION AS ALL CONDITIONS PRECEDENT ARE MET        
Johannesburg, Tuesday 11 May 2004 - Harmony Gold Mining Company Limited         
(NYSE: HMY JSE: HAR) today announced that following a meeting held on 3 May 2004
at which the required majority of Avgold shareholders approved the scheme of    
arrangement proposed by Harmony between Avgold and its shareholders in terms of 
section 311 of the Companies Act, 1973 (Act 61 of 1973), the scheme was         
sanctioned by the High Court of South Africa and the order of the court         
subsequently registered by the Registrar of Companies.                          
In terms of the scheme Harmony will, on Friday 21 May 2004, acquire the entire  
issued share capital of Avgold in return for the issue of one fully paid-up     
Harmony share for every 10 Avgold shares held.                                  
With the registration of the Order of Court by the Registrar of Companies, the  
last of the conditions precedent has been fulfilled and the scheme will become  
operative on Monday 24 May 2004.                                                
"We are pleased that we have finally concluded the acquisition of Avgold. The   
inclusion of the Target Mine enhances our pipeline of quality growth projects   
and is another milestone in achieving our short term production target of 4     
million ounces per annum," commented Bernard Swanepoel, Chief Executive.        
Remaining salient dates                                                         
Friday 14 May -     Last day to trade for Avgold shareholders wishing to receive
                    the scheme consideration                                    
Monday 17 May -     Suspension of listing of Avgold shares at commencement of   
                    trading                                                     
Friday 21 May -     Being the date on which Avgold shareholders must be recorded
                    in the share register of Avgold to receive the scheme       
consideration                                               
Monday 24 May -     Operative date of the scheme at commencement of trading and 
                    Scheme consideration posted to certificated scheme          
                    participants                                                
Tuesday 25 May -    Termination of listing of Avgold shares on the JSE at       
                    commencement of trading                                     
11 May 2004                                                                     
For more details contact:                                                       
Bernard Swanepoel                                                               
on +27(0)83 303 9922                                                            
or                                                                              
Ferdi Dippenaar                                                                 
on +27(0)82 807 3684                                                            
Investor Relations Officer                                                      
Corne Bobbert                                                                   
Tel +27 11 684 0146                                                             
Mobile +27(0)83 380 6614                                                        
cbobbert@harmony.co.za                                                          
www.harmony.co.za                                                               
 ENDS                                                                           
Date: 11/05/2004 02:39:34 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             
                                                                                
                                                                                
                                                                                



                                        
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