AGLD Allied Gold

RNS No 5182T
WESTERN DEEP LEVELS LIMITED
ANGLO AMERICAN GOLD INVESTMENT COMPANY LIMITED
5th June 1998


ANGLOGOLD LIMITED(Incorporated in the Republic of South Africa)Registration
number 05/17354/06("Anglogold")and EAST RAND GOLD AND URANIUM COMPANY LIMITED
(Incorporated in the Republic of South Africa)Registration number
71/07001/06("Ergo")  EASTVAAL GOLD HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number 91/04409/06
("Eastvaal")
  
ELANDSRAND GOLD MINING COMPANY LIMITED
(Incorporated in the Republic of South Africa)
Registration number 74/01477/06
("Elandsrand")  

FREE STATE CONSOLIDATED GOLD MINES LIMITED 
(Incorporated in the Republic of South Africa)
Registration number 05/28210/06
("Freegold")  

SOUTHVAAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number 66/11806/06
("Southvaal")              

WESTERN DEEP LEVELS LIMITED(Incorporated in the Republic of South
Africa)Registration number 57/02349/06("Western Deeps")  (collectively "the
Participating Companies")and ANGLO AMERICAN GOLD INVESTMENT COMPANY
LIMITED(Incorporated in the Republic of South Africa)Registration number
05/09084/06("Amgold")

RESULTS OF GENERAL MEETINGS AND SCHEME MEETINGS

1.  Approval of resolutions relating to the formation of the enlarged
Anglogold
2.  Approval of transactions in terms of which ANGLOGOLD ACQUIRES
CERTAIN GOLD INTERESTS OF AMGOLD
3. APPROVAL BY MEMBERS OF THE PARTICIPATING COMPANIES OF THE ACQUISITION
BY ANGLOGOLD OF THE PARTICIPATING COMPANIES BY WAY OF SCHEMES OF ARRANGEMENT
IN TERMS OF SECTION 311 OF THE COMPANIES ACT ("THE SCHEMES")

1.       At the general meeting of members of Anglogold held on 4 June 1998
the resolutions, which relate to the formation of        the enlarged
Anglogold  and which were set out in the notice of general meeting dated 6 May
1998, were passed  by the requisite majority of members in terms of the
requirements of the Companies Act 1973, as amended and of the       
Johannesburg Stock Exchange Listings Requirements, as applicable.

       The resolutions relate to:

-       the acquisition by Anglogold of the entire issued share capitals of
each of the Participating Companies, the gold mineral rights and share
interests and the cession and assignment to Anglogold of the Service
Agreements as defined in the Circular posted to members on 6 May 1998;
 
       -       the adoption of the "Anglogold Limited Share Incentive Scheme";

       -       the increase in the remuneration of directors;

       -       the issue, to Anglo American Corporation of  South Africa
Limited  (AAC), of ordinary shares in Anglogold as consideration for the cession
and assignment to Anglogold of the Service Agreement between Anglogold
and AAC; and


-       the reduction of Anglogold's share capital, subject to confirmation by
the High Court of South Africa, by cancelling that portion of the share
premium account which is equal to the goodwill attributable to the
acquisitions by Anglogold of the various assets referred to in the Circular to
members dated 6 May 1998.

2.              At  the general meeting of members of Amgold held on 3 June
1998 the resolution relating to the disposal by the company to
Anglogold of its holdings in the Participating Companies together with its
Gold Mineral Rights, certain other share interests (including the
interest in Driefontein Consolidated Limited) and certain US Dollar
denominated loans all as referred to in the resolution, was passed by
the requisite majority of members in terms of the requirements of the
Companies Act 1973, as amended.  In addition the resolution was passed by a
majority of members other than Anglo American Corporation of  South
Africa Limited and those of its subsidiaries which hold shares in       
Amgold, which are related parties of the company in terms of the rules of the
Johannesburg Stock Exchange.  

              In exchange for the disposals by it, Amgold will receive the
following:

-       a total of 15 070 023 Anglogold shares credited as fully paid;

-       participation rights in future profits or equity arising from the
exploitation of certain mineral rights areas, and a participation in
any profits, should these assets be disposed of by Anglogold; and

-       corresponding obligations by Anglogold to Amgold in respect of the
disposal to Anglogold of certain loans.

3.       At the scheme meetings of the Participating Companies held in terms
of Orders of the High Court of South Africa  (Witwatersrand Local Division)
("the Court") on 4 June 1998, the Participating Companies' members approved, in
accordance with the requirements of Section 311 of the Companies Act 1973, as
amended, the Schemes in terms of which it is proposed that:

       -       existing members of the Participating Companies will receive a
certain number of new Anglogold ordinary  shares for every 100 shares held on
the Record Date and/or a pro rata number of Anglogold ordinary shares.
Fractions of new  Anglogold ordinary shares will not be allotted, but in
lieu thereof, Participating Companies' members will receive the cash equivalent
of that Participating Company's member's entitlement to a fraction
of a new Anglogold ordinary share.  The cash equivalent will be the value of
such fraction based on a price of  R195,00 per share;  and

       -       the Participating Companies will become wholly-owned
subsidiaries of Anglogold.

On 23 June 1998 applications will be made to the Court to sanction the
Schemes.  Subject to the sanction by the Court, it is expected that the
listings of the Participating Companies' (other than Eastvaal) shares will
terminate at the close of trading on 26 June 1998 (the last day for those
companies' members to register to participate in the respective Schemes) and
the Schemes  (other than the Eastvaal Scheme) will become operative on 29 June
1998.

In the case of Eastvaal, the listing of its shares will terminate at the close
of trading on 10 July 1998 (the last day for Eastvaal members to register to
participate in the Scheme) and the Scheme will become operative on 13 July
1998.



Johannesburg
7 June 1998

END


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