HARMONY DISPOSES OF ITS STAKE IN PLACER DOME
Johannesburg - 30 January 2003 - Harmony Gold Mining Company Limited
(NYSE: HMY: JSE: HAR) today announced that it has disposed of its 1,9%
shareholding in Placer Dome. The 7 586 422 shares, which were classified as a
non-core investment, were sold at an average price of US$11.52 per share,
realising some US$87 million.
"This disposal concludes our very successful investment which was originally
made in Goldfields Limited of Australia, at a cost of R225 million. The cash
proceeds from this transaction will further enhance the strength of the
company`s balance sheet," commented Bernard Swanepoel, chief executive.
ENDS
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