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Thu 19 Jan 2006, 10:58 Highveld Steel and Vanadium Corporation Limited -
HVL
 HVL                                                                             
Highveld Steel and Vanadium Corporation Limited - Further Cautionary            
Announcement                                                                    
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                                                        
FURTHER CAUTIONARY ANNOUNCEMENT                                                 
Further to the Cautionary Announcement published on 8 December 2005 following   
the strategic review of Anglo American plc ("Anglo American") to embark on a    
process which, if concluded, may result in a sale by Anglo American of its stake
in Highveld, shareholders are advised to continue to exercise caution when      
dealing in Highveld"s shares until a further announcement is made.              
Witbank                                                                         
19 January 2006                                                                 
Sponsor                                                                         
JPMorgan                                                                        
Date: 19/01/2006 10:58:54 AM Produced by the JSE SENS Department                
                                                                                
                                                                                
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