Director Shareholding

African Rainbow Minerals Limited

(Formerly Anglovaal Mining Limited)

(Incorporated in the Republic of South Africa)

(Registration number 1933/004580/06)

(South African share code: ARI)

(London Stock Exchange code: AGM)

(ISIN: ZAE000054045)

('ARM')

Dealing in securities by a director of ARM

The reader is referred to the SENS announcements dated 2 September 2004 and 17
March 2005 where the deputy chairman, Richard Peter Menell exercised his
options to acquire 160 000 shares on 1 September 2004 at an average price of
R4.24 each, which represents the actual cost price of the options at the
excrcise date. The amount of R34.52 referred to in the SENS announcement dated
2 September 2004 refers to the share price at that date. ARM apologises for any
confusion caused.

Sandton

22 March 2005

Sponsor to ARM:

Deutsche Securities (SA) (Proprietary) Limited