DROOY Drdgold Limited - American Depositary Share Representing Ten Underlying Ordinary Shares (MM)

Schatz & Nobel, P.C. Announces Class Action Lawsuit Against DRDGOLD Limited HARTFORD, Conn., June 13 /PRNewswire/ -- The law firm of Schatz & Nobel, P.C., which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Southern District of New York on behalf of all persons who purchased the publicly traded securities of DRDGOLD Limited, formerly known as Durban Roodepoort Deep, Limited, (NASDAQ:DROOY) ("DRDGOLD" or the "Company") between October 23, 2003 and February 24, 2005, inclusive (the "Class Period"). The Complaint alleges that DRDGOLD and certain of its officers and directors violated federal securities laws. Specifically, defendants made numerous statements regarding: (i) the successful restructuring of the Company's North West Operations in South America; (ii) the Company's ability to reduce the negative impact of the increasing value of the South African Rand versus the U.S. Dollar; and (iii) the increasing strength of the Company's balance sheet. In truth, the Company's problems with its North West Operations were never fully resolved and resulted in the Company being forced to record an impairment charge for the full value of its mining assets there. Despite representations to the contrary, DRDGOLD continued to be negatively impacted by the increasing value of the South African Rand. Further, these problems resulted in the Company being forced to announce that it might not be able to operate as a going concern. When this information was belatedly disclosed to the public, shares of DRDGOLD fell more than 25%. If you are a member of the class, you may, no later than August 12, 2005, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members, including decisions concerning settlement. The securities laws require the Court to consider the class member(s) with the largest financial interest as presumptively the most adequate lead plaintiff(s). For more information about the case, its claims, and your rights, please contact Schatz & Nobel toll-free at (800) 797-5499, or by e-mail at . To view a copy of the Complaint initiating the class action, which was not filed by Schatz & Nobel, or for more information about this case, class action cases in general, or Schatz & Nobel, please visit our website: http://www.snlaw.net/. CONTACT: Wayne T. Boulton or Nancy A. Kulesa Tel.: (800) 797-5499 Website: http://www.snlaw.net/ e-mail: DATASOURCE: Schatz & Nobel, P.C. CONTACT: Wayne T. Boulton or Nancy A. Kulesa, +1-800-797-5499, both of Schatz & Nobel Web site: http://www.snlaw.net/

Copyright