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Randfontein Estates (RNDE)

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Tuesday 09 November, 1999

Randfontein Estates

Further Joint Cautionary Announcement

Randfontein Estates Ld
Randgold Resources Limited
Free State Development & Investment Corporation Limited
9 November 1999


Consolidated African Mines Limited 
(Incorporated in South Africa) 
(Registration number 01/00854/06) 
('CAM') 

JCI Gold Limited 
(Incorporated in South Africa) 
(Registration number 98/05215/06) 
('JCIGL') 

Western Areas Limited 
(Incorporated in South Africa) 
(Registration number 59/03209/06) 
('WAL') 

Randfontein Estates Limited 
(Incorporated in South Africa) 
(Registration number 01/00251/06) 
('REL') 

Randgold & Exploration Company Limited 
(Incorporated in South Africa) 
(Registration number 92/05642/06) 
Nasdaq Trading Symbol: RANGY 
('Randgold') 

Randgold Resources Limited 
(Incorporated in Jersey) 
(Registration number 62686) 
('RRL') 

Barnato Exploration Limited 
(Incorporated in South Africa) 
(Registration number 88/03756/06) 
('Barnex') 

Free State Development and Investment Corporation Limited 
(Incorporated in South Africa) 
(Registration number 05/16931/06) 
('Freddev') 

(collectively 'the Companies' or 'the Group') 

Further Joint Cautionary Announcement

Further to the cautionary announcement dated 15 October 1999, shareholders in
the Companies and holders of options in CAM and REL are advised that the
approvals required for the proposed shareholding and corporate restructuring
of the Group are still being sought.  Consequently, it has been resolved that
the proposed restructuring of the shareholding and corporate structure of the
Group will proceed in two stages.  The terms of the first stage of the
proposed restructuring will be announced by the end of November 1999.

Consequently, shareholders in the Companies and holders of options in CAM and
REL are respectively advised to continue to exercise caution in dealing in
shares in the Companies and options in CAM and REL.

Johannesburg
9 November 1999

Joint financial advisers

CHASE 
Standard Bank Resource Banking 
Reg. No. 62/00738/06 

Joint sponsoring brokers to CAM, JCIGL, WAL, REL, Barnex and Freddev 
BOE Securities (Pty) Ltd 
Member of the Johannesburg Stock Exchange 
Co. Reg. No. 96/15589/07 

Merrill Lynch South Africa (Pty) Ltd 
Member of the Johannesburg Stock Exchange 
Registration number 95/01805/07 

SG Frankel Pollak Securities (Pty) Ltd 
Reg. No. 96/05886/07 
(Member of the Johannesburg Stock Exchange) 

Stock broker to RRL 
HSBC Investment Bank plc 
Regulated by the SFA 
Member of the London Stock Exchange 

Sponsoring broker to Randgold 
HSBC Securities (South Africa) (Pty) Limited 
Reg. No. 99/10899/07 
Member of the Johannesburg Stock  Exchange 

                                                                                                   

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