/ 31 May 2000

ANGLO BUYS SHELL COAL WORKS

OIL giant Royal Dutch Shell said on Wednesday it has agreed to sell its Australian-based coal business to Anglo American for between $850-million and $900-million in cash. The final price is dependent on balance sheet adjustments on completion of the deal, Shell said in a statement, adding that it expects to finalise the agreement by end-June. Anglo said the purchase will be funded from international debt facilities and will enhance group earnings from 2002.