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Mon 16 Aug 2004, 12:20 DEALING IN SECURITIES BY A DIRECTOR
Highveld - Dealing In Securities By A Director                                  
HIGHVELD STEEL AND VANADIUM CORPORATION LIMITED                                 
Registration no. 1960/001900/06                                                 
(Incorporated in the Republic of South Africa)                                  
(`Highveld`)                                                                    
Share code : HVL       ISIN code : ZAE000003422                                 
A member of the Anglo American plc group                                        
DEALING IN SECURITIES BY A DIRECTOR                                             
In compliance with the relevant provisions of the JSE Listings Requirements, the
following information was disclosed wherein an executive director, Mr E Barnardo
exercised options as follows:                                                   
Strike price               : R10.50                                             
Vesting date               : 02.02.1998                                         
Exercise date              : 06.08.2004                                         
Number of shares           : 5 000                                              
Strike price               : R12.50                                             
Vesting date               : 06.07.1998                                         
Exercise date              : 06.08.2004                                         
Number of shares           : 15 000                                             
As was announced on 13 August 2004, Mr E Barnardo sold 14 000 shares on 12      
August 2004. The balance of the shares, which he took delivery of following the 
exercise of the options, have been sold on the following terms:                 
Transaction date            : 13 August 2004                                    
Number of shares            : 6 000                                             
Class of security           : Ordinary shares of 100                            
                              cents each                                        
Transaction price           : R24.45                                            
Total value                 : R146 700                                          
Extent of interest          : Direct beneficial                                 
In terms of Section 3.66 of the JSE Listings Requirements prior clearance to    
deal in the above securities has been obtained from Mr TE Jones, Chairman of the
Board of Highveld.                                                              
Witbank                                                                         
16 August 2004                                                                  
Sponsor                                                                         
Cazenove                                                                        
Date: 16/08/2004 12:14:03 PM                     
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