Anglogold Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1944/017354/06)
ISIN Number: ZAE000014601
JSE Share Code: ANG
NEWS RELEASE
CORPORATE AFFAIRS DEPARTMENT
16th FLOOR, 11 DIAGONAL STREET
JOHANNESBURG 2001
TELEPHONE: (+27 11) 637-6385
FAX: (+27 11) 637-6399/6400
21 January 2002
ANGLOGOLD SELLS NORMANDY HOLDING
AngloGold has sold its holding in Normandy Mining via a block trade to UBS
Warburg and on market through Deutsche Bank.
During its takeover bid for Normandy, which closed on Friday,
18 January, AngloGold received acceptances in respect of 159.3 million
Normandy shares, representing 7.11% of Normandy's issued capital.
AngloGold will realise approximately A$310 million (US$159 million) from the
sale of its shareholding in Normandy. It is intended to use the cash
proceeds to repay debt, which will further strengthen AngloGold's balance
sheet.
Jonathan Best, AngloGold's Chief Financial Officer, said: "It was prudent to
realise the cash from the minority stake as soon as possible so as to avoid
any market risk and to put the funds to work."
AngloGold is well-placed financially and strategically to pursue value-
adding growth opportunities. The company will continue to focus on organic
growth through its five major capital projects and advanced exploration
projects; and will also seek to grow value through the acquisition of both
individual orebodies and corporate entities.
www.anglogold.com
Queries:
In South Africa
Steve Lenahan
+2711 637 6248 (tel)
+2711 637 6107 (fax)
+27 83 308 2200 (mobile)
slenahan@anglogold.com
Shelagh Blackman
+2711 637-6379 (tel)
+2711 637-6399 (fax)
+27 83 308 2471 (mobile)
sblackman@anglogold.com
In Australia
Andrea Maxey
+61 8 9425 4604 (tel)
+61 8 9625 4650 fax)
+61 438 001 393 (mobile)
amaxey@anglogold.com.au
Hamish Douglass
Deutsche Bank
+61 2 9258 2039 (tel)
+61 2 9258 2440 (fax)
+61 419 560 349 (mobile)
hamish.douglass@db.com
In Europe
Tomasz Nadrowski
+41 22 718 3312 (tel)
+41 22 718 3335 (fax)
+41 79 345 9774 (mobile)
tnadrowski@anglogold.com
Alex Buck
+44 20 7664 8712 (tel)
+44 20 7664 8711 (fax)
+44 7932 2740 452 (mobile)
abuck@anglogold.com
In the USA
Charles Carter
800 417 9255 toll free
+1 212 750 7999 (tel)
+1 212 750 5626 (fax)
ccarter@anglogold.com
Ends
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