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HARMONY GOLD MINING COMPANY LIMITED - HARMONY"S BID FOR ABELLE NOW UNCONDITIONAL

Release Date: 19/05/2004 13:26:27      Code(s): HAR
HARMONY GOLD MINING COMPANY LIMITED - HARMONY"S BID FOR ABELLE NOW UNCONDITIONAL
Harmony Gold Mining Company Limited                                             
JSE:          HAR                                                               
NYSE:       HMY                                                                 
ISIN No.:   ZAE000015228                                                        
HARMONY"S BID FOR ABELLE NOW UNCONDITIONAL                                      
Johannesburg, Wednesday 19 May 2004 - Harmony Gold Mining Company Limited       
(NYSE: HMY JSE: HAR) today announced that its bid for all the outstanding       
securities in   Abelle Limited is now unconditional.                            
Since launching its offer for Abelle on 15 March 2004, Harmony has received     
acceptances for 27,985,985 ordinary shares and 18,860,254 listed options.  This 
gives Harmony an effective interest in 96.61% of the ordinary shares in issue   
and in 97.20% of the listed options.  Based on this level of acceptance, Harmony
is now entitled to proceed with a compulsory acquisition of both these classes  
of securities.                                                                  
Having reached this level of ownership and thereby satisfied a key condition of 
its offer, Harmony has now declared its offer free from all remaining           
conditions.  Under the terms of the offer, Abelle shareholders and optionholders
who have accepted the offer will be sent their payment within seven days.       
"This is a great milestone for Harmony.  The Hidden Valley Project, Wafi Gold   
Project and the Golpu Copper-Gold Projects are exciting world class deposits and
further enhance our international growth strategy. We look forward to developing
these exciting projects for the benefits of both Harmony shareholders and the   
people of Papua New Guinea" said Harmony"s Chief Executive, Bernard Swanepoel.  
Hidden Valley Project, on which the new feasibility study was completed in 2003,
is currently in the process of seeking development approvals from the Papua New 
Guinea government. Phase 1 of the project will produce on average 300 000 oz    
gold and 4.5 Moz silver per annum. Assuming the approval process proceeds with  
without delay the project should be pouring its first gold early in the year    
2006. If the inferred resources identified to date are converted to reserves    
there will be significant extension on the currently envisaged 6.5-year life.   
Wafi Gold Project is still undergoing active exploration. Significant success   
has been achieved in expanding the resource base which now totals 6.3 Moz (72.2 
Mt @ 2.72g/t). The project has the potential to be developed into a significant 
world class producer. Significant work will be carried out during the current   
year including exploration, metallurgical and geotechnical studies. A pre-      
feasibility study is being planned for 2005.                                    
The Golpu copper-gold porphyry deposit is adjacent to the Wafi gold project. A  
pre-feasibility study, which envisages mining by large-scale block-cave         
underground mining methods, is being progressed and early work indicates that   
this project will proceed to feasibility study with some detail metallurgical   
and geotechnical work required. The current resource estimate totals 114.25 Mt @
1.43% copper and 0.72g/t gold.                                                  
Issued by Harmony Gold Mining Company Limited                                   
19 May 2004                                                                     
For more details contact:                                                       
Ted Grobicki                                                                    
Executive Director                                                              
Mobile  +61 427 990 039                                                         
Office   +61 8 9211 3100                                                        
or                                                                              
Ferdi Dippenaar                                                                 
Marketing Director                                                              
Mobile +27 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                                                               
JSE:          HAR                                                               
NYSE:       HMY                                                                 
ISIN No.:   ZAE000015228                                                        
Date: 19/05/2004 01:26:31 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             
                                                                                
                                                                                
                                                                                



                                        
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