Ashanti Goldfields Company Limited Delisting From Australian Stock Exchange.

Business Editors

ACCRA, Ghana--(BUSINESS WIRE)--May 24, 2002

As a result of the proposed amendments to the Australian Stock Exchange (ASX) Listing Rules in relation to Foreign Exempt Entities which will be introduced on 1 July 2002, Ashanti Goldfields Company Limited ("Ashanti") will not satisfy the revised ASX Foreign Exempt category thresholds because its market capitalisation is less than the stated threshold of A$2 billion.

Ashanti therefore intends to be automatically removed from the official list of the ASX on 1 July 2002.

Ashanti continues to have a joint primary listing on the Ghana Stock Exchange and the London Stock Exchange and continues to be listed on the New York Stock Exchange. Ashanti's securities trade as ordinary shares and as Global Depositary Securities in both London and New York. Trading in Ashanti's securities can be effected through any of these stock exchanges.

In accordance with the request of the ASX, Ashanti will send letters to all shareholders on the Australian register and shareholders with Australian addresses on Ashanti's overseas registers, informing them that Ashanti will be removed from the official list of ASX on 1 July 2002, and provide details of how those shareholders may arrange to sell their shares on the Ghana, London or New York Stock Exchanges.