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Fri 5 Aug 2005, 15:26 Highveld Steel And Vanadium Corporation Limited -
Highveld Steel And Vanadium Corporation Limited - Exercise Of Share Options By A
Director                                                                        
Highveld Steel and Vanadium Corporation Limited                                 
A member of the Anglo American plc Group                                        
Registration no. 1960/001900/06                                                 
(Incorporated in the Republic of South Africa)                                  
(`Highveld` or `the corporation`)                                               
Share code:  HVL                                                                
ISIN code:  ZAE000003422                                                        
EXERCISE OF SHARE OPTIONS BY A DIRECTOR                                         
In compliance with the relevant provisions of the JSE Listings Requirements, the
following information is disclosed wherein an executive director, Dr AJ Pienaar 
exercised share options as follow:                                              
Strike price : R28.75                                                           
Vesting date : 14.08.1995                                                       
Exercise     : 05.08.2005                                                       
date                                                                            
Number of    : 20 000                                                           
shares                                                                          
Total value  : R575 000.00                                                      
Nature of    : Direct                                                           
interest       beneficial                                                       
The shares will be sold in due course for appropriate alignment with his desired
investment portfolio.                                                           
In terms of Section 3.66 of the Listings Requirements prior clearance to deal in
the above securities has been obtained from the chairman of the Board of        
Highveld.                                                                       
Witbank                                                                         
5 August 2005                                                                   
Sponsor                                                                         
JP MORGAN EQUITIES LIMITED                                                      
Date: 05/08/2005 03:15:55 PM                
Produced by the JSE SENS Department                                             
                                                                                
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