/ 21 October 1999

ASHANTI APPROACHES ANGLOGOLD

THE world’s largest gold producer, Anglogold has been approached by the embattled Ashanti Goldfields, Africa’s third-largest gold producer. According to the Business Day Anglogold has been approached by Ashanti’s advisors. Anglogold said the meeting was little more than “fundemental information gathering.” The move officially places Anglogold in the battle arena for Ashanti which is reportedly struggling because of hedging problems. Ashanti has already recieved two take-over offers from Lonmin, its 32% majority shareholder. Last week Anglogold announced it is making a R3,3-billion bid for Australia’s Acacia Resources.