AngloGold Receives Approval From Australia's Foreign Investment Review Board.

Business Editors

NEW YORK--(BUSINESS WIRE)--November 27, 2001

AngloGold Limited (NYSE: AU) received approval today from Australia's Foreign Investment Review Board (FIRB) for its proposed acquisition of Normandy Mining.

The approval was granted on the following conditions:

-- that AngloGold adheres to its undertaking not do anything to prevent
Normandy from honouring its existing commitments with respect to Australian
Magnesium Corporation Limited;

-- that AngloGold maintains a corporate headquarters in Australia; and

-- that AngloGold retains its listing on the Australian Stock Exchange (ASX).

AngloGold Chairman and CEO Bobby Godsell said that the conditions were entirely consistent with the company's intentions.

The AngloGold offer currently values Normandy at A$1.46 per share, based on the closing price of AngloGold shares on the New York Stock Exchange (NYSE) on November 26.

This compares with the current value of the proposed offer by Newmont which values Normandy at A$1.42 (which could increase by 5 cents per share in the event of a 90% acceptance of the offer and certain relief being obtained from the Australian Securities and Investments Commission), based on the closing share price on the NYSE on November 26.

Applications by AngloGold have now been lodged with the Australian Takeovers Panel. These challenge key aspects of Newmont's proposed offer for Normandy and the related arrangements with Franco Nevada.

AngloGold's offer is open and capable of immediate acceptance with a scheduled closing date of December 14 2001.

Disclaimer

Except for the historical information contained herein, there are matters discussed in this news release that are forward-looking statements. Such statements are only predictions and actual events or results may differ materially. For a discussion of important factors including, but not limited to, development of the Company's business, the economic outlook in the gold mining industry, expectations regarding gold prices and production, and other factors, which could cause actual results to differ materially from such forward-looking statements, refer to the Company's annual report on the Form 20-F for the year ended 31 December 2000 which was filed with the Securities and Exchange Commission on 23 April 2001.

Holders of Normandy shares and Normandy ADSs located in the United States are strongly advised to read the F4 registration statement regarding the offer referred to in this presentation and other documents to be filed with the US Securities and Exchange Commission when they become available, because they will contain important information. Holders of Normandy shares and Normandy ADSs may read and copy these statements, when available, at the US Securities and Exchange Commission's public reference rooms. Please call the US Securities and Exchange Commission at +1-800-SEC-0330 for further information on the public reference rooms. These US Securities and Exchange Commission filings are also available to the public from commercial document retrieval services.