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Harmony Gold Mining Company Ltd

Release Date: 01/12/2006 17:55:00      Code(s): HAR
Harmony Gold Mining Company Ltd                                                 
Incorporated in the Republic of South Africa                                    
Registration number: 1950/038232/06                                             
JSE share code: HAR                                                             
ISIN: ZAE000015228                                                              
HARMONY TENDERS ITS WESTERN AREAS SHARES                                        
Johannesburg. Friday 1 December 2006. Harmony Gold Mining Co. Ltd ("Harmony")   
announced today that it had tendered its Western Areas shares for conversion to 
Gold Fields shares.                                                             
This follows the offer made by Gold Fields to the Western Areas minority        
shareholders contained in the circular dated 30 October 2006. Upon receipt of   
its shares, Harmony will own 2.75% of the enlarged share capital of Gold Fields 
having exchanged its ownership in Western Areas.                                
Chief Executive Bernard Swanepoel says, "Accepting the Gold Fields shares in    
lieu of Western Areas shares will facilitate the liquidation of our investment  
which although already approved by Harmony"s board of directors, will only be   
concluded at an opportune time."                                                
Harmony acquired its stake (44 985 939 shares) in Western Areas at a cost of    
R44.23 per share on 9 March 2006. This investment was accounted for using the   
equity method of accounting and Harmony"s share of the net loss for the period  
since the acquisition resulted in a decrease in value per share to an estimated 
value* of R40.61 per share. The proceeds on the share conversion amounts to     
R47.26 per share, resulting in an estimated accounting profit of R6.65 per      
* Harmony"s share of Western Areas" results for the months of October 2006 and  
November 2006 were estimated based on their September 2006 quarterly results.   
For further information contact                                                 
Bernard Swanepoel                                                               
Chief Executive - Harmony Gold                                                  
Cell. +27 83 303 9922                                                           
Amelia Soares                                                                   
General Manager, Investor Relations                                             
Cell. +27 82 654 9241                                                           
Merrill Lynch South Africa (Pty) Limited                                        
Date: 01/12/2006 05:55:02 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             

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