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Anglo American plc - Anglo American Plc Notification: De Beers Press Release
Anglo American plc
(Incorporated in the United Kingdom)
Registration number: 3564138
Share code: AGL
ISIN: GB0004901517
(the "Company")
Anglo American Plc Notification: De Beers Press Release
Anglo American plc wishes to draw attention to an announcement made by De Beers.
De Beers Societe Anonyme
(Incorporated under the laws of Luxembourg)
It was announced today that agreement has been reached, and a preliminary
approval order issued, to settle the majority of civil class action suits filed
against De Beers in the United States. This settlement does not involve any
admission of liability on the part of De Beers and will bring an end to a number
of outstanding disputes.
"We believe that settling these suits is the most sensible and responsible
course of action for the company to take. It is consistent with the other steps
we have taken in both the US and Europe to restructure and modernise both our
operations and business model, and is in the best interests of De Beers"
partners and stakeholders in southern Africa and elsewhere in the world" said
Gary Ralfe, De Beers Managing Director.
"With this settlement behind us, De Beers can now focus greater attention and
resources on being a leader in all of our markets and playing a leading role to
address humanitarian issues such as the fight against HIV/AIDS. We will continue
to work on these issues in consultation with the international community", he
added.
The settlement is subject to final approval by the Honourable Stanley R.
Chesler, District Court Judge for the United States District Court for the
District of New Jersey. De Beers hopes that the settlement will be approved
during 2006.
De Beers believes that a successful conclusion to these suits will allow the
company to more effectively pursue its global interests by removing the cost,
risk, reputational impact and distraction from the company"s core activities
required to defend multiple class actions and possible further litigation.
We do not wish to comment or speculate on the approval process itself, or the
issues under consideration by the court. Therefore, for the time being, we have
nothing further to add to this statement.
Contact: Lynette Hori
Tel: +44 207 430 3509
Cell: +44 7740 393 260
Rory More O"Ferrall
Tel: +44 207 430 3126
Cell: +44 7803 503 522
Note to Editors
The settlement agreements relate to claims brought by a nationwide class of
indirect purchasers in Sullivan v. DB Investments, INC., et. al., Hopkins v. De
Beers Centenary AG, et. al, Cornwell v. D.B. Investments, Inc., and Null v. DB
Investments, et. al. for $250 million.
It is important to note that the settlement of the US class action litigations
against the international business of De Beers will not be financed from, nor
will it have any material impact on, any of the company"s mining operations in
southern Africa. Indeed, we believe that the settlement will be beneficial to De
Beers" partners and stakeholders in southern Africa as well as elsewhere in the
world.
Sponsor:
J.P.Morgan Equities Limited
Date: 01/12/2005 01:29:41 PM Produced by the JSE SENS Department
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