Final Results - Year Ended 31 Dec 1999, Part 2

Anglo American PLC
22 March 2000

Part 2

3. Profit for the financial year
The table below analyses the contribution of each division to the Group's
headline profit.

US$ million                              Profit before  Net Investment  Tax
                                         Interest 1999          Income
By business segment                                                    
Gold                                       469          38              (90)
Platinum                                   495          20              (97)
Diamonds                                   252           -              (77)
Coal                                       122           3              (46)
Base Metals                                175         (64)              (6)
Industrial Minerals                        131           7              (15)
Ferrous Metals                              80         (14)               3
Forest Products                            275         (47)             (21)
Industries                                 367         (39)             (78)
Financial Services                         131          21              (35)
De Beers investments(1)                     -          296              (61)
Exploration (see note 4)                 (138)           2               -
Corporate activities                     (121)          42               24
Headline profit for the year (see note  2,238          265             (499)
6)
Headline profit adjustment (see note 6)   314            -               18
Profit for the financial year           2,552          265             (481)

Pro forma (unaudited)                    Profit before  Net investment  Tax
US$ million                              interest 1998          income
By business segment - pro forma                                              
Gold                                       518          76             (132)
Platinum                                   339          41              (87)
Diamonds                                   148          17              (62)
Coal                                       173           5              (76)
Base Metals                                 86          (9)              (5)
Industrial Minerals                        109          11               (9)
Ferrous Metals                             164         (20)             (23)
Forest Products                            235         (73)             (37)
Industries                                 325         (61)             (63)
Financial Services                          98          23              (39)
De Beers investments(1)                      -         289              (71)
Exploration (see note 4)                  (137)          -                -
Corporate activities                       (90)         33               29
Headline profit for the financial year   1,968         332             (575)
(see note 6)
Headline profit adjustment (see note 6)     76           -                5
Profit for the financial year            2,044         332             (570)
(1). Represents De Beers' share of Anglo American plc earnings for the 12
months to 31 December.

3. Profit for the financial year (ctd.)

US$ million                            Equity minority     Profit for the
                                       interests           financial year 1999
By business segment                                      
Gold                                    (207)              210
Platinum                                (218)              200
Diamonds                                 (13)              162
Coal                                       -                79
Base Metals                               (8)               97
Industrial Minerals                       (7)              116
Ferrous Metals                            (2)               67
Forest Products                           (8)              199
Industries                              (168)               82
Financial Services                        (5)              112
De Beers investments(1)                  (84)              151
Exploration (see note 4)                  24              (112)
Corporate activities                       -               (55)
Headline profit for the year (see note  (696)            1,308
6)
Headline profit adjustment (see note 6)  (88)              244
Profit for the financial year           (784)            1,552


Pro forma (unaudited)                  Equity minority   Profit for the
US$ million                            interests         financial year 1998
By business segment - pro forma                          
Gold                                     (201)             261
Platinum                                 (160)             133
Diamonds                                  (16)              87
Coal                                        -              102
Base Metals                               (10)              62
Industrial Minerals                        (5)             106
Ferrous Metals                            (21)             100
Forest Products                             -              125
Industries                               (103)              98
Financial Services                         (3)              79
De Beers investments(1)                   (70)             148
Exploration (see note 4)                   21             (116)
Corporate activities                        2              (26)
Headline profit for the financial year   (566)           1,159
(see note 6)
Headline profit adjustment (see note 6)    12               93
Profit for the financial year            (554)           1,252
(1). Represents De Beers' share of Anglo American plc earnings for the 12
months to 31 December.

4.Exploration expenditure

                                             pro forma
                                           (unaudited)
US$ million                    1999               1998
                                                      
Business segment                                      
Gold                             48                 62
Base Metals                      85                 74
Other                             5                  1
                                138                137


5.Tax on profit on ordinary activities

                                                                   pro forma
                                                                 (unaudited)
US$ million                                              1999         1998
                                                                
United Kingdom corporation tax at 30.25% (1998: 31.53%)    10           16
South Africa corporation tax at 30.0% (1998: 35.0%)       237          285
Other overseas taxation                                    62           62
Share of joint ventures' taxation                          18           21
Share of associates' taxation                             186          221
Deferred taxation                                         (14)         (30)
Tax on exceptional items                                  (18)          (5)
                                                          481          570

6.Headline Profit

US$ million                                                                 
(except per share amounts)              Earnings 1999     Basic earnings per
                                                                  share 1999
Profit for the financial year                  1,552                 4.03
Exceptional items                               (410)               (1.06)
Amortisation of goodwill                          96                 0.25
Related tax and minority interests                70                 0.18
Headline profit for the financial year         1,308                 3.40

6.Headline Profit (ctd.)

US$ million                                  Earnings pro     Basic earnings
(except per share amounts)              forma (unaudited)      per share pro
                                                           forma (unaudited)
                                                   1998               1998
Profit for the financial year                     1,252               3.32
Exceptional items                                  (165)             (0.44)
Amortisation of goodwill                             89               0.24
Related tax and minority interests                  (17)             (0.05)
Headline profit for the financial year            1,159               3.07

Headline profit per share is calculated in accordance with the definition in
the Institute of Investment Management and Research ('IIMR') Statement of
Investment Practice No. 1, 'The Definition of IIMR Headline Earnings', which
the directors believe to be a useful additional measure of the Group's past
performance.


7. Exceptional items

                                                                  pro forma
                                                                (unaudited)
US$ million                                             1999         1998
                                                               
Disposal of interest in Driefontein Consolidated Limited  89            -
Partial disposal of interest in Gold Fields Limited       53            -
Partial disposal of interest in South African Breweries   84            -
plc
Disposal of AECI Limited's interest in Polifin Limited   181            -
Disposal of Terra Industries Incorporated's distribution (33)           -
operations
Disposal of Copebras S.A. carbon black business           -           124
Disposal of interest in Lonrho plc                        -           (96)
Disposal of other non-core assets                         36          109
Share of associates' exceptional items                    79           28
Profit on disposal of fixed assets                       489          165
Cost of fundamental reorganisation by AECI Limited       (79)           -
Exceptional items                                        410          165
Taxation                                                  18            5
Minority interests                                       (98)          (1)
                                                         330          169


8. Consolidated cash flow statement analysis

a)Reconciliation of group operating profit to net cash inflow from operating
activities

                                                           pro forma
                                                         (unaudited)
US$ million                                    1999          1998
                                                     
Group operating profit - subsidiaries         1,305         1,197
Depreciation and amortisation charges           736           717
Decrease in stocks                               30            47
Increase in debtors                            (215)         (345)
(Decrease)/increase in creditors                (83)          170
Other non cash items                             77            73
Net cash inflow from operating activities     1,850         1,859


b)Financing

                                                              pro forma
                                                            (unaudited)
US$ million                                         1999         1998
                                                           
(Decrease)/increase in short-term borrowings        (254)         679
(Decrease)/increase in long-term borrowings         (705)         259
Redemption of minorities                             (15)          (6)
Share issue expenses                                 (71)           -
Exercise of share options                              9            2
Sale of Anglo American plc shares by subsidiaries    633            -
                                                    (403)         934


c)Reconciliation of net cash flow to movement in net funds/(debt)

                                                              pro forma
                                                            (unaudited)
US$ million                                         1999         1998
                                                           
Increase in cash in the year                         328           90
Cash outflow/(inflow) from debt financing            959         (938)
Cash (inflow)/outflow from management of liquid     (912)         518
resources
Change in net debt resulting from cash flows         375         (330)
Loans and current asset investments acquired with   (149)        (354)
subsidiaries
Exchange adjustments                                  54          (20)
Movement in net funds/(debt)                         280         (704)
Net (debt)/funds at start of year                   (199)         505
Net funds/(debt) at end of year                       81         (199)


9.Movement in net debt

US$ million                    pro forma (unaudited) 1998    Cash flow
                                                           
Cash at bank and in hand (1)                        1,011         328
                                                           
Debt due after one year                            (3,236)        705
Debt due within one year                           (1,180)        254
                                                   (4,416)        959
                                                           
Current asset investments                           3,206        (912)
Total                                                (199)        375
Net of bank overdrafts.

9.Movement in net debt (ctd.)

                                 Acquisitions and       Exchange         
                              disposals excluding       adjustments
                              cash and overdrafts
US$ million                                                      1999
                                                               
Cash at bank and in hand                       -         (87)   1,252
(1)
                                                               
Debt due after one year                     (132)         93   (2,570)
Debt due within one year                     (17)         27     (916)
                                            (149)        120   (3,486)
                                                               
Current asset investments                      -          21    2,315
Total                                       (149)         54       81
Net of bank overdrafts.


10. Reconciliation of pro forma 1998 profit disclosed in Prospectus to pro
forma comparatives

                                         Total        Exceptional  Net
                                         operating    items        investment
US$ million                              profit                    income
                                                              
Per Prospectus                              2,016          149          43
Acquisition of minorities:
  Anglo American Gold Investment Co Ltd         -            -           -
  Anglo American Investment Trust Ltd           -            -           -
Adjustments and reallocations:           
  De Beers Diamonds                           (23)          (3)        (38)
  De Beers Investments                        (57)          19         260
Amortisation of  Goodwill                     (27)           -           -
Reclassification of Companies as associates   (39)           -          35
Other adjustments and reclassifications          9           -          32
Pro forma comparatives                       1,879         165         332


10. Reconciliation of pro forma 1998 profit disclosed in Prospectus to pro
forma comparatives (Ctd.)

                                        Tax on      Equity      1998 Profit
                                        profit      minority    for the
                                        on ordinary interests   financial
                                        activities              year
                                                               (unaudited)
                                                                          
                                                                          
US$ million                                                               
                                                                
Per Prospectus                                  (441)     (618)      1,149
Acquisition of minorities:                                              
 Anglo American Gold Investment  Co. Ltd           -        49          49
 Anglo American Investment Trust Ltd               -        53          53
Adjustments and reallocations:                                            
 De Beers Diamonds                               (11)       26         (49)
 De Beers Investments                            (62)      (77)         83
Amortisation of  Goodwill                          -         -         (27)
Reclassification of companies as                 (14)       18           -
associates
Other adjustments and reclassifications          (42)       (5)         (6)
Pro forma comparatives                          (570)     (554)      1,252


11. Reconciliation of pro forma 1998 balance sheet disclosed in Prospectus to
pro forma comparatives

US$ million                                 Intangible Tangible  Fixed asset
                                            assets     assets    investments
                                                               
Per Prospectus                                  269   10,353          6,416
Acquisition of minorities:                                                 
 Anglo American Gold Investment  Co. Ltd        247        -             47
 Anglo American Investment Trust Ltd            139        -            611
Goodwill adjustments                            700     (237)           565
Reclassification of companies as associates     (23)  (1,515)           465
Other adjustments and reclassifications          45      (25)           332
Pro forma comparatives                        1,377    8,576          8,436

11. Reconciliation of pro forma 1998 balance sheet disclosed in Prospectus to
pro forma comparatives (Ctd.)

US$ million                               Net     Provisions     Equity
                                          current and long term  minority
                                          assets  liabilities    interests
                                                                 
Per Prospectus                             4,223        (5,221)    (3,547)
Acquisition of minorities:                                       
 Anglo American Gold Investment  Co. Ltd       -             -        294
 Anglo American Investment Trust Ltd           -             -         14
Goodwill adjustments                         (81)          (54)      (130)
Reclassification of companies as associates (272)          706        610
Other adjustments and reclassifications      129           (99)        55
Pro forma comparatives                     3,999        (4,668)    (2,704)


Production Statistics

Production statistics - for the year ended 31 December(1)
                                                  1999        1998
AngloGold (troy ounces)
South Africa                                 5,745,000   6,368,000
North and South America(2)                     911,000     779,000
Rest of the world                              262,000     234,000
                                             6,918,000   7,381,000
                                                                  
Anglo Platinum (troy ounces)
Platinum                                     2,022,700   1,861,000
Palladium                                    1,017,200     930,900
Rhodium                                        171,700     176,700
Nickel (tonnes)                                 19,600      20,600
                                                                  
Anglo Coal (tonnes)                          
Eskom                                       41,700,000  39,600,000
Trade                                       19,600,000  19,200,000
Cerrejon                                       500,000   1,000,000
                                            61,800,000  59,800,000
Anglo Base Metals                             
Copper (tonnes)                             
Collahuasi                                     191,200      21,100 (3)
                                                                   
Mantos Blancos                                 151,600     138,100   
Hudson Bay                                      50,300      47,100   
Palabora                                        31,000      40,300   
                                               424,100     246,600   
                                                                  
Zinc (tonnes)                          
Hudson Bay                                      82,800      93,400
Black Mountain                                  31,200           -
Lisheen                                       (3)7,200           -
                                               121,200      93,400
                                                                  
Lead (tonnes)                          
Black Mountain                                  73,800           -
Lisheen                                       (3)3,700           -
                                                77,500           -
                                                                  
Nickel (tonnes)                          
Codemin                                          6,500       6,900
Tati                                             3,700       3,500
                                                10,200      10,400
                                                                  
Namakwa Sands (tonnes)
Chloride slag                                   85,700      40,900
Sulphate slag                                   13,900       9,200
Pig iron                                        60,200      20,600
Zircon                                          91,900      36,700
Rutile                                          17,800       6,700

Anglo Industrial Minerals (tonnes)
Aggregates                                  26,701,000  28,416,000
Lime products                                  926,000     935,000
Concrete (m3)                                2,612,000   2,466,000
Potash                                         825,000   1,014,000
Sodium tripolyphosphate                         82,000      67,000
Phosphates                                     589,000     547,000
                                                                  
Ferrous Metals (tonnes)
Chrome ore                                   1,360,000   1,321,000
Stainless steel                                183,000     161,000
Vanadium slag                                   58,000      70,000
Chrome alloys                                  394,000     362,000
Manganese ore                                1,462,000   1,365,000
Manganese alloys                               255,000     249,000
Steel                                        1,228,000   1,347,000
Ferroalloys                                    240,000     226,000
                                                                  
Anglo Forest Products (tonnes)
South Africa                          
Pulp                                           346,000     330,000
Graphic papers                                 404,000     401,000
Packaging papers                               436,000     516,000
Corrugated board (000 m2)                       89,000      42,000
Lumber (m3)                                    385,000     464,000
Wood chips                                   1,018,000     947,000
Mining timber                                  133,000     221,000
                                        
Europe                                                            
Pulp                                           137,000     135,000
Graphic papers                                 555,000     522,000
Packaging papers                               347,000     303,000
Corrugated board (000 m2)                      611,000      19,000
Paper sacks (000 units)                        611,000     574,000
                                                                  
Brazil                                                            
Pulp                                           149,000     138,000
                                                                  
(1).Includes entire output of consolidated entities and the Group's share
   of joint ventures and associates where applicable.
(2) Production in 1998 relates to Minorco's gold operations.
(3)  Pre commercial production.


A final dividend on the Company's ordinary share capital in respect of the
year to 31 December 1999 will, subject to approval by shareholders at the
Annual General Meeting to be held on 16 May 2000, be payable as follows:

* Amount : 108 US cents per ordinary share (see notes)
* Currency conversion date: Friday, 17 March 2000
* Ex-dividend on the London and Johannesburg Stock Exchanges from the
  commencement of trading on: Monday, 3 April 2000
* Record date (applicable to both the principal register and South African
  branch register): Friday, 7 April 2000
* Dividend warrants posted: Tuesday, 16 May 2000
* Payment date of dividend: Wednesday, 17 May 2000

Notes:
1.  Shareholders on the United Kingdom register of members with an address  in
the  United  Kingdom will be paid in pounds sterling, unless  they  elect  for
payment  in US dollars, and those shareholders with an address elsewhere  will
be  paid  in  US  dollars, unless they elect for payment in  pounds  sterling,
provided  all  such elections are received by the UK Registrar  by  Friday,  7
April  2000.  The equivalent of the dividend in sterling will be 68.6232 pence
per ordinary share based on an exchange rate of US$1 = £0.6354.

2. Shareholders on the South African branch register will be paid in South
African rand at R6.9606 per ordinary share based on an exchange rate of US$1 =
R6.4450.