AGLD Allied Gold

RNS No 9800h
ANGLO AMERICAN GOLD INVESTMENT COMPANY LIMITED
21 April 1999


NOTICE TO HOLDERS OF SHARE WARRANTS TO BEARER
IN THE HIGH COURT OF SOUTH AFRICA                           Case No. 99/8842
(Witwatersrand Local Division)                              P/H No:  342.

In the matter of the application of:

ANGLO AMERICAN GOLD INVESTMENT COMPANY LIMITED              Applicant
Registration number 05/09084/06
("Amgold")

SCHEME OF ARRANGEMENT ("scheme") in terms of Section 311 of the South African
Companies Act, 1973 (Act 61 of 1973), as amended, ("the Act")

On Monday 29 March 1999, the board of Amgold announced that Anglo American
Corporation of South Africa Limited ("AAC") intends to propose a scheme of
arrangement between Amgold and its shareholders, other than AAC and its
subsidiaries, to acquire those shares in Amgold not already owned by AAC and
its subsidiaries.  The acquisition of the outstanding Amgold shares in terms
of the Amgold scheme will be achieved by way of an offer of shares in Anglo
American plc ("Anglo American") at a ratio of 140 Anglo American shares for
every 100 Amgold shares held, together with a cash sum for any fractional
entitlements.  Details of the scheme, the effects of which will be that AAC
will acquire all the shares in Amgold, are set out in the explanatory
statement dated Wednesday, 21 April 1999.

The proposal will be submitted to shareholders of Amgold at a meeting of
shareholders ("the scheme meeting") convened pursuant to the direction of the
High Court of South Africa (Witwatersrand Local Division) to be held at 18th
Floor, 55 Marshall Street, Johannesburg, South Africa, on Friday 7 May 1999 at
15:30.

Subject to approval by shareholders at the scheme meeting and after fulfilment
of various conditions precedent, it is expected that the scheme will become
operative on Monday, 24 May 1999.  Thereafter, shareholders will become
entitled to claim Anglo American share certificates in terms of the scheme.

Holders of share warrants to bearer are advised to contact any of the
undermentioned paying agents immediately, where copies of the documentation
relating to the scheme, including the explanatory statement made in terms of
Section 312 of the Act (which incorporates the scheme) and other necessary
documents, will be available during normal business hours from Wednesday, 21
April 1999.  The documentation relating to the scheme, which will be made so
available, will be posted to registered members on Wednesday, 21 April 1999,
and gives full details of the proposals and the action to be taken by
registered members to enable them to vote at, and participate in, the scheme.

The paying agents are:

Belgium

Bank Brussels Lambert
avenue Marnix 24
B-1000 Brussels
Belgium

France

Credit du Nord
50 rue d'Anjou
75008 Paris
France

Switzerland

UBS AG
Abwicklungen Ausland OY79
CH-8098 Zurich
Switzerland 
  
The United Kingdom registrar of Amgold is - 

Computershare Services PLC
PO Box 82
Caxton House
Redcliffe Way
Bristol BS99 7NH
England 

In terms of the proposed scheme, holders of Amgold share warrants to bearer
will, if the scheme becomes operative, be required to surrender their share
warrants to bearer, together with talon number 5 and coupons numbered 90 to
109 inclusive attached, to the paying agents at any time up to Friday 21 May
1999, and at any time thereafter to the United Kingdom registrar in London, in
order to receive shares in Anglo American, which will be in registered form. 
Accordingly, holders of share warrants to bearer will be required to give a
name and address for incorporation into the share register of Anglo American
in relation to the shares to be transferred, in the event of the scheme
becoming operative.

Instructions to holders of share warrants to bearer
Scheme meeting of Amgold

Holders of share warrants to bearer who wish to attend in person or by proxy,
and to vote, at the scheme meeting must prior to 15:30 on Friday, 30 April
1999 submit to one of the abovementioned paying agents their share warrants to
bearer together with talon number 5 and coupons numbered 90 to 109 inclusive,
attached.  In return therefor, authorised forms of attendance or authorised
proxy forms, as the case may be and as required by the holder, in respect of
the number of shares represented by the share warrants to bearer surrendered,
will be issued by the paying agent for use at the scheme meeting.  The share
warrant to bearer, together with talons and coupons so surrendered, can be
collected from the relevant paying agent after the conclusion of the meeting,
or any adjournment thereof, against surrender of the receipt given in respect
thereof.

Surrender of share warrants to bearer

2.1. Holders of share warrants to bearers -

may at any time up to Friday, 21 May 1999 lodge with one of the paying agents,
and at any time thereafter lodge with the United Kingdom registrar, a duly
completed surrender form for holders of bearer  warrants (obtainable from the
relevant paying agent or United Kingdom registrar) together with their share
warrants to bearer having the said talon and coupons attached thereto;

must receive a written receipt from the relevant paying agent, or United
Kingdom registrar, in respect of the share warrants to bearer so lodged;

may not earlier than 10 days after the later of the date on which the scheme
becomes operative and the date of surrender of the relevant share warrants to
bearer, collect the registered share certificates in respect of Anglo American
shares constituting the share consideration in terms of the scheme, from the
paying agent or United Kingdom registrar to whom the surrender was made,
against surrender of the receipt referred to in 2.1.2, provided that if any
such holder has given written instruction requiring such certificate to be
posted, such posting shall be effected at the risk of the addressee on the
abovementioned 10th day.

Should the scheme not become operative, an announcement to that effect will be
made in the press and holders of share warrants to bearer may at any time not
earlier than 10 days after such announcement, collect from the relevant paying
agent, the share warrants to bearer together with the talons and coupons,
which were surrendered, against presentation of the receipt referred to in
2.1.2.

The above arrangements are subject to the terms and conditions set out in the
scheme and other relevant documents referred to above.

A press announcement will be made by Tuesday, 25 May 1999, confirming whether
or not the scheme has become operative.

Johannesburg
Wednesday, 21 April 1999

END


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