AGM Statement

Anglo American PLC
15 May 2001


News Release
15 May 2001



                  ANGLO AMERICAN PLC ANNUAL GENERAL MEETING

                             TUESDAY 15 MAY, 2001



The following remarks were made by Tony Trahar, chief executive, at today's
Annual General Meeting: 'Our Annual Report, published a month ago, records the
most successful year of operation of Anglo American plc in which we achieved
very satisfactory results. Our operating profits increased by 50 per cent to
US$3.2 billion and headline earnings rose by 53 per cent to US$2 billion. Cash
flow from operations was strong at US$3 billion.

We have also published Anglo American's first public Safety, Health and
Environment Report. This sets out both our achievements in improving safety,
health and environmental performance, as well as those areas which require
further improvement. In particular it is both disappointing and unacceptable
that we still have far too many fatalities and injuries. We are redoubling our
strenuous efforts to eliminate work-related deaths and significant injuries
across the Group.

In relation to the environment and the concept of sustainable development we
are founder members of an international industry body, the Global Mining
Initiative, which is actively exploring, together with a wide range of other
stakeholders, how best our industry can contribute to sustainable development.

In my statement in the Annual Report I referred to the achievement of enhanced
stakeholder value as the key objective of Anglo American plc. Since last
year's AGM we have made and continue to make major progress towards realising
this objective through acquisitions and organic growth, accelerating the
disposal of non-core assets and proposing to dismantle the Anglo American/De
Beers cross-holding.

Following the disposal of a 15.3 per cent interest in FirstRand, in exchange
for significant holdings in Billiton and Goldfields, we sold our 7.1 per cent
holding in Billiton in April this year at a price around US$150 million
higher, or 25 per cent higher, than the price when the deal was agreed in
December last year.





I would like to comment briefly on the current proposal to unwind the Anglo
American and De Beers cross-holding which received the overwhelming approval
of Anglo American shareholders at the extraordinary general meeting of 4 May
and which will be voted on Friday (18 May) at the De Beers scheme meeting.

The benefits of the transaction for Anglo American are significant, including

  * The elimination of the cross-holding which has depressed the Anglo
    American share price and been a source of criticism by shareholders.
  * An increase in Anglo American's interest in De Beers and its core
    diamond business from 32.2 per cent to 45 per cent.
  * An inflow of US$1.1 billion in cash now to the company with a further
    inflow of US$701 million in future years on redemption of the preference
    shares to be taken up by Anglo American in DBI.
  * The retention of a full weighting on the FTSE 100 index.

The implementation of the DBI transaction will address the major inhibitor to
unlocking value for Anglo American shareholders and will open the way to a
re-rating of Anglo American's shares.

In February this year, the Anglo American mid-market share price stood at
GBP44.30, which represented the highest price of a single ordinary share of
any constituent of the FTSE 100 Index. We recognised that such a high price
for an individual Anglo American share may discourage certain smaller
investors from investing in Anglo American and adversely affect the liquidity
in Anglo American shares. Accordingly with shareholder approval on 4 May we
implemented a bonus issue of three new shares for each existing share held and
the price of the Anglo American shares after the bonus shares has settled
around £11 reflecting the bonus issue. This issue has made the shares more
affordable and should improve liquidity in the market.

I should note that we have been advised that Anglo American will now be
included in the MSCI emerging markets index and that Anglo American is also in
the process of seeking listings on the Namibian and Botswana stock exchanges.

Turning to the current trading outlook, the group continues to benefit from
its diversified portfolio during a period of some uncertainty. Weaker
commodity prices, particularly in the base and ferrous metals sector, have
been offset by higher coal prices and ongoing high prices for the platinum
group metals. Operating profits for the first quarter are slightly ahead of
the same quarter last year with headline earnings at similar levels. It is too
early to predict the outcome for the year given the ongoing global economic
uncertainties as to whether the stimulatory measures being adopted in the USA
and Europe will improve demand.'









BOARD CHANGES


Also at today's AGM, Mr L Boyd and Mr M W King retired as vice chairmen and
from the board and Mr B E Davison, chief executive of Anglo American Platinum,
and Mr W A Nairn, group technical director were elected as directors to the
board.




Notes to Editors:


Barry Davison, aged 55, began his career with Johannesburg Consolidated
Investment Company (JCI) in 1968 and in 1986 he was appointed a director of
that company. He was appointed managing director of the newly established
Anglo American Platinum Corporation Limited in 1995 and, in 1997, its chief
executive. In 1986, he joined the board of Anglo American Corporation of South
Africa Limited (AAC).


Bill Nairn, aged 56, was appointed chief executive and managing director of
JCI in 1994. Mr Nairn joined the AAC Group in 1999 when he was appointed an
executive director of AAC and, in January 2000, was appointed group technical
director of AAC.








For further information:


Anglo American, London

Media Relations

Kate Aindow

Tel: [phone]