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Thu 2 Mar 2006, 9:52 Highveld - Further cautionary announcement
HVL
 HVL                                                                             
Highveld - 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                                                 
Shareholders are referred to the initial Cautionary Announcement published on 26
October 2005 as well as to subsequent announcements made during December 2005   
and January 2006 relating to the strategic review of Anglo American plc ("Anglo 
American") and its announcement to embark on a process which, if concluded, may 
result in a sale by Anglo American of its stake in Highveld.                    
Several interested parties have commenced due diligence investigations in       
respect of Highveld. Shareholders are advised to continue to exercise caution   
when dealing in Highveld shares.                                                
Witbank                                                                         
2 March 2006                                                                    
Sponsor                                                                         
J.P.Morgan                                                                      
Date: 02/03/2006 09:52:05 AM Produced by the JSE SENS Department                
                                                                                
                                                                                
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