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HARMONY GOLD MINING COMPANY LIMITED - US COURT FINDS AGAINST GOLD FIELDS

Release Date: 24/11/2004 12:04:02      Code(s): HAR
HARMONY GOLD MINING COMPANY LIMITED - US COURT FINDS AGAINST GOLD FIELDS        
Harmony Gold Mining Company Limited                                             
(Incorporated in the Republic of South Africa)                                  
(Registration number 1950/038232/06)                                            
Share code: HAR     ISIN: ZAE000015228                                          
("Harmony")                                                                     
NEWS RELEASE FROM HARMONY                                                       
24 November 2004                                                                
US Court finds against Gold Fields                                              
On 5 November 2004, Gold Fields brought an action in the United States District 
Court for the Southern District of New York (the "Court") seeking an injunction 
against Harmony"s early settlement offer for 34.9% of Gold Fields" shares,      
alleging that, inter alia:                                                      
- Harmony had entered into purported undisclosed concert party type agreements  
  with Norilsk;                                                                 
- Harmony"s offers were coercive;                                               
- Harmony had published in the US misleading gold reserves figures; and         
- Harmony had omitted certain other information from its public documentation.  
Shareholders should be aware that, even prior to the Court"s decision, Gold     
Fields had abandoned all of its allegations, including those relating to alleged
concert party type arrangements between Harmony and Norilsk and that Harmony"s  
offers were coercive, except for the allegation relating to Harmony"s disclosure
of its gold reserves.                                                           
The case was heard on Wednesday 17 November 2004.  On Tuesday 23 November 2004, 
the Court ruled in favour of Harmony.  In particular the Court noted Gold       
Fields" failure to challenge Harmony"s evidence and that Gold Fields" own expert
witness agreed that Harmony"s gold reserve estimate was "justified".  The Court 
also noted that Chris Thompson (Chairman of Gold Fields) admitted that he had   
failed to read Harmony"s primary offer documentation prior to Gold Fields making
its allegations.                                                                
This judgement represents the latest in what Harmony considers to be Gold       
Fields" campaign of frivolous litigation, which is aimed solely at attempting to
divert Gold Fields" shareholders attention away from the value contained in     
Harmony"s full and fair offers and to frustrate the ability of Gold Fields      
shareholders to assess the offers on their merits.  In particular, Harmony is   
astonished that, given the decision by Gold Fields not to pursue its concert    
party allegations in the US Court, Gold Fields is continuing to pursue this     
matter with the SRP and the Competition Appeal Court in South Africa, despite   
the Executive Director of the SRP and then the Executive Committee of the SRP,  
on appeal, as well as the Competition Tribunal having already ruled against     
them.                                                                           
Unless the context otherwise requires, the definitions contained in the offer   
document or the registration statement sent to Gold Fields shareholders have the
same meaning in this announcement.                                              
In connection with the proposed acquisition of Gold Fields, Harmony has filed a 
registration statement on Form F-4 (which was declared effective by the         
Securities and Exchange Commission (SEC) on November 19, 2004) and filed a final
prospectus, dated November 19, 2004, with the SEC pursuant to Rule 424(b)(5) of 
the Securities Act of 1933, to register the Harmony ordinary shares (including  
Harmony ordinary shares represented by Harmony American Depositary Shares       
(ADSs)) to be issued in exchange for Gold Fields ordinary shares held by Gold   
Fields shareholders located in the United States and for Gold Fields ADSs held  
by Gold Fields shareholders wherever located, as well as a Statement on Schedule
TO.  Investors and holders of Gold Fields securities are strongly advised to    
read the registration statement and the preliminary prospectus, the related     
exchange offer materials and the final prospectus (when available), the         
Statement on Schedule TO and any other relevant documents filed with the SEC, as
well as any amendments and supplements to those documents, because they will    
contain important information.  Investors and holders of Gold Fields securities 
may obtain free copies of the registration statement, the final prospectus,     
related exchange offer materials and the Statement on Schedule TO, as well as   
other relevant documents filed or to be filed with the SEC, at the SEC"s web    
site at www.sec.gov.  Investors and holders of Gold Fields securities will      
receive information at an appropriate time on how to obtain transaction-related 
documents for free from Harmony or its duly designated agent. The final         
prospectus and other transaction-related documents may be obtained for free from
MacKenzie Partners, Inc., the information agent for the U.S. offer, at the      
following address: 105 Madison Avenue, New York, New York 10016; telephone 1    
(212) 929 5500 (call collect) or 1 (800) 322 2885 (toll-free call); e-mail      
proxy@mackenziepartners.com.                                                    
This communication is for information purposes only.  It shall not constitute an
offer to purchase or exchange or the solicitation of an offer to sell or        
exchange any securities of Gold Fields or an offer to sell or exchange or the   
solicitation of an offer to buy or exchange any securities of Harmony, nor shall
there be any sale or exchange of securities in any jurisdiction in which such   
offer, solicitation or sale or exchange would be unlawful prior to the          
registration or qualification under the laws of such jurisdiction.  The         
distribution of this communication may, in some countries, be restricted by law 
or regulation.  Accordingly, persons who come into possession of this document  
should inform themselves of and observe these restrictions.  The solicitation of
offers to buy Gold Fields ordinary shares (including Gold Fields ordinary shares
represented by Gold Fields ADSs) in the United States will only be made pursuant
to a prospectus and related offer materials that Harmony has sent to holders of 
Gold Fields securities.  The Harmony ordinary shares (including Harmony ordinary
shares represented by Harmony ADSs) may not be sold, nor may offers to buy be   
accepted, in the United States prior to the time the registration statement     
becomes effective.  No offering of securities shall be made in the United States
except by means of a prospectus meeting the requirements of Section 10 of the   
United States Securities Act of 1933, as amended.                               
The directors of Harmony accept responsibility for the information contained in 
this announcement.  To the best of the knowledge and belief of the directors of 
Harmony (who have taken all reasonable care to ensure that such is the case),   
the information contained in this announcement is in accordance with the facts  
and does not omit anything likely to affect the import of such information.     
Date: 24/11/2004 12:04:09 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             
                                                                                
                                                                                
                                                                                



                                        
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