Offer Update

Anglo American PLC
4 August 2000


    Anglo American plc declines to increase bid for North
                           Limited
                              
Anglo American plc ('AA plc') notes yesterday's announcement
by Rio Tinto plc that it has increased its offer for North
Limited to A$4.75 per share.

AA plc believes that its offer price of A$4.20 per share in
cash (together with a fully franked dividend of A$0.05 cents
per share to be paid by North Limited) was significantly
value enhancing for its shareholders.  Taking into account
the strong support from a number of Japanese companies, AA
plc's offer of A$4.25 met all of its evaluation criteria
giving a return in excess of its cost of capital.

However, any offer above A$4.75 would not be value enhancing
for shareholders and AA plc's board has therefore decided
not to increase its offer.

As the existing offer of A$4.20 has no prospect of success,
AA plc will not be proceeding further with that offer.


Queries:

Anglo American - London

Investor Relations                 Media Relations
Nick von Schirnding                Kate Aindow
Tel:  [phone]          Tel:   [phone] 
Mob:  [phone]

Anglo American - Johannesburg

Investor Relations            Media Relations
Anne Dunn                     Marion
Dixon
Tel:  [phone]         Tel:    [phone] 
Mob:  [phone]         Mob:    [phone]