ANGLOGOLD LIMITED

(Registration number 1944/017354/06)

(Incorporated in the Republic of South Africa)

("AngloGold")

ISIN: ZAE000043485

JSE Share code: ANG

DEALINGS IN SECURITIES BY DIRECTORS OF ANGLOGOLD LIMITED

IN TERMS OF THE ANGLOGOLD SHARE INCENTIVE SCHEME

In terms of JSE Listings Requirement 3.63 we give notice that the following
directors have exercised share options, after having received clearance to do
so in terms of Listings Requirement 3.66. The options were granted in terms of
the AngloGold Share Incentive Scheme. This resulted in the following ordinary
shares of the company having been allotted and traded on the JSE:

Details                                        J G Best             D L Hodgson
                                                                               
Date exercised and sold                13 November 2003        13 November 2003
                                                                               
Type of interest                             Beneficial              Beneficial
                                                                               
Number of shares                                 25,800                   9,600
                                                                               
Date options granted                 31 August 1998 and    16 February 1998 and
                                       16 February 1998            03 July 1997
                                                                               
Vesting period                     Over a 5 year period    Over a 5 year period
                                                                               
Option exercise price          6,200 options at R108.00                 R104.00
                                                                               
                                      19,600 options at                        
                                                R104.00                        
                                                                               
Sale price (average)                          R296.1125               R296.1828
                                                                               
% of total shares in issue                  0.011568145             0.004304426

17 November 2003

Sponsor

UBS



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