HAR - Harmony - Harmony In Excellent Financial Health                           
Harmony Gold Mining Company Ltd                                                 
Incorporated in the Republic of South Africa                                    
Registration Number: 1950/038232/06                                             
JSE Code:  HAR                                                                  
NYSE Code: HMY                                                                  
NASDAQ Code: HMY                                                                
ISIN: ZAE000015228                                                              
("Harmony")                                                                     
PRESS RELEASE                                                                   
HARMONY IN EXCELLENT FINANCIAL HEALTH                                           
Johannesburg, 23 April 2009. Harmony Gold Mining Company Limited ("Harmony") is 
pleased to announce that it has delivered on its promise of reducing its debt,  
preserving cash and positioning itself to become net debt free.                 
Rand Uranium proceeds - second and final tranche received                       
Harmony entered into agreements with Pamodzi Resources Fund 1 LLP ("PRF"), in   
terms of which certain uranium and gold assets of Randfontein Estates Limited (a
wholly owned subsidiary of Harmony)  were sold into a special purpose vehicle,  
Rand Uranium (Proprietary) Limited ("Rand Uranium"), for a purchase             
consideration of US$348 million. Harmony holds 40% of Rand Uranium`s            
shareholding and in exchange for 60% of the issued share capital of Rand        
Uranium, it was agreed that Harmony would receive US$209 million.  PRF paid the 
first tranche of US$40 million in November 2008.  The second tranche of $169    
million, plus interest thereon at 5% per annum, was payable in April 2009.      
Shareholders` attention is drawn to various announcements made relating to the  
transaction on 19 December 2007, 24 October 2008 and 21 November 2008.          
On 20 April 2009 PRF paid approximately US$172 million to Harmony as final      
payment in terms of the Rand Uranium transaction.  Harmony`s Chief Executive    
Officer, Graham Briggs says, "We are excited about the future of Rand Uranium   
and look forward to sharing in Rand Uranium`s success, together with PRF and    
their investors, First Reserve Corporation and AMCI Capital."                   
Raising funds                                                                   
Harmony has completed its planned capital raising, exploiting favorable market  
conditions by issuing a second tranche of shares for cash in the open market,   
pursuant to its mandate given by shareholders at the Annual General Meeting.    
In the capital raising 7 540 646 shares have been placed between 10 February    
2009 and 6 March 2009 at an average subscription price of R124.45, raising R938 
million before costs. The average issue price compares favourably with the      
weighted average share price on the JSE over the same period of R122.75 per     
share. The number of shares issued is equivalent to 1.9% of Harmony`s issued    
share capital of 403 424 148 shares as at 30 September 2008. Combined with the  
share issue announced in December 2008, the cumulative share issue amounts to   
4.5% thereof. To date, the total number of shares in issue is 425,763,329. The  
cost of the second placement was approximately R15 million, or 1.6% of the value
of the shares issued.                                                           
JP Morgan Equities Limited acted as transaction advisor.                        
Debt Position                                                                   
The combined effect of the above is that Harmony is net debt free.              
The proceeds from the capital raising and the Rand Uranium transaction totaling 
R2.7 billion, will be utilized to repay Harmony`s convertible bond (due in May  
2009) and its short term debt, leaving a positive cash balance of approximately 
R1.5 billion.                                                                   
"Harmony is in excellent financial health with a strong balance sheet thanks to 
all the measures that have been taken in the past 18 months. Our focus now      
remains on achieving our overall targets and delivering consistent results",    
concluded Briggs.                                                               
Harmony Presentation                                                            
Harmony Gold Mining Company Limited will be hosting analysts and fund managers  
today.  The presentation will be available on the company`s website at          
www.harmony.co.za at 08:00 this morning.                                        
Issued by Harmony Gold Mining Company Limited                                   
For more details contact:                                                       
Frank Abbott                                                                    
Interim Financial Director                                                      
On +27 (0)82 800 4290                                                           
Or                                                                              
Graham Briggs                                                                   
Chief Executive Officer                                                         
On +27 (0)83 265 0274                                                           
Or                                                                              
Marian van der Walt                                                             
Executive: Corporate and Investor Relations                                     
On +27 (0)82 888 1242                                                           
Corporate Office:                                                               
Randfontein Office Park                                                         
PO Box 2                                                                        
Randfontein                                                                     
South Africa                                                                    
T: +27 (11) 411 2000                                                            
For more information on Harmony, please visit www.harmony.co.za                 
Transaction Advisor and Sponsor in respect of capital raising:                  
J.P. Morgan Equities Limited                                                    
Date: 23/04/2009 07:05:02 Supplied by www.sharenet.co.za                     
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