Re Strategic Shareholder

Anglovaal Mining Ld
12 March 2002

ANGLOVAAL MINING LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1933/004580/06)
JSE Share code: AIN ISIN: ZAE000017141
('Avmin')

Introduction of strategic shareholder

The board of Avmin has been informed that, subject to appropriate regulatory
approvals, Arctic Resources Limited ('Arctic') has disposed of 34,9% of the
issued share capital of Avmin, at R41 per share to Anglo American plc ('Anglo
American').

The disposal by Arctic of a material portion of its holding in Avmin represents
the elimination of the historical control structure of this South African
company.

In this regard shareholders are referred to the press release by Anglo American
appearing on the Securities Exchange News Service.

The board of Avmin welcomes the supportive statements that have been made by
Anglo American regarding co-operation with Avmin. The board of Avmin looks
forward to working together with Anglo American to ensure that these expressions
of support can be harnessed to the maximum advantage of all Avmin's
stakeholders.

Avmin believes that the company's ability to meet new challenges and
opportunities will be enhanced by the presence of Anglo American, a leading
resource industry player.

Johannesburg
12 March 2002

Sponsor to Avmin

Deutsche Securities
Member of the Deutsche Bank Group
Deutsche Securities (SA) (Proprietary) Limited
(Registration number 1995/011798/07)



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