Anglogold Ashanti Files Shelf Registration Statement and Announces Combined Equity Offering

JOHANNESBURG, March 23 /PRNewswire/ --

NOT FOR RELEASE IN THE UNITED STATES

AngloGold Ashanti Limited ("AngloGold Ashanti") (LSE: AGD) has today filed an automatic shelf registration statement with the United States Securities and Exchange Commission. The registration statement became effective immediately and replaces the registration statement filed by AngloGold Ashanti in December 2002. Pursuant to this, AngloGold Ashanti also announces its intention to proceed with a global offering, to selected investors, to raise AngloGold Ashanti approximately US$500 million by the placement of approximately 10.3 million ordinary shares (based upon the closing price of AngloGold Ashanti American Depositary Shares ("ADSs") on the New York Stock Exchange ("NYSE") on 22 March 2006 of US$48.33 per ADS). The offering will be in the form of AngloGold Ashanti ordinary shares or ADSs. The offering by AngloGold Ashanti will be combined with an offering by Anglo South Africa Capital (Proprietary) Limited, a wholly owned subsidiary of Anglo American plc ("Anglo American"), to selected investors, of approximately 17.6 million AngloGold Ashanti ordinary shares, in the form of AngloGold Ashanti ordinary shares or ADSs, as announced separately by Anglo American plc today. To the extent that the combined offering is oversold, Anglo American has granted the underwriters an option to purchase up to approximately 4.2 million additional ordinary shares. Based upon the closing price of AngloGold Ashanti ADSs on the NYSE on 22 March 2006 of US$48.33 per ADS, this offering will result in proceeds to Anglo American plc of approximately US$850 million to US$1,050 million, depending on the extent to which the option is exercised.

AngloGold Ashanti intends to use the proceeds of its offering for project development, capital expenditure and other general corporate purposes. AngloGold Ashanti's current and proposed projects include the expansion of the Cuiabá mine in Brazil, the final development of the Moab Khotsong mine in South Africa, three projects at the Tau Tona mine in South Africa, including the development of this mine below 120 level, two initiatives at the Geita mine in Tanzania including a transition to owner-mining as well as the purchase of additional earthmoving equipment to increase production at this mine, the development of the Boddington mine in Australia and further exploration of the deep level development of the Obuasi mine in Ghana. Pending such use, AngloGold Ashanti intends to reduce its short-term borrowings and borrowings under its existing revolving credit facility.

A circular will be posted to AngloGold Ashanti shareholders on 24 March 2006 in order to convene a shareholders' meeting on 10 April 2006 to obtain their approval for a specific authority to issue shares for cash in the offering, in accordance with the Listings Requirements of the JSE Limited.

The sale of AngloGold Ashanti shares by Anglo American combined with the offering by AngloGold Ashanti will reduce Anglo American plc's ownership interest in AngloGold Ashanti to approximately 42.6% (assuming no exercise of the over-allotment option), thereby allowing AngloGold Ashanti greater flexibility to pursue its strategy going forward. Anglo American plc has confirmed its intention to remain a substantial shareholder in AngloGold Ashanti for the medium term and will consider other alternative transactions to effect the further reduction of its interests in AngloGold Ashanti.

AngloGold Ashanti has also today entered into a registration rights agreement with Anglo American pursuant to which AngloGold Ashanti has agreed to effect the registration of the combined offering and, subject to certain limitations, future offerings by Anglo American.

Commenting on the proposed offering, CEO Bobby Godsell said "I am excited that we are taking our growth strategy to the market. The capital we are seeking to raise will increase our flexibility to pursue growth aggressively. I am also pleased that Anglo American plc is giving effect to its decision to decontrol AngloGold Ashanti and reduce its shareholding in the Company. I am particularly pleased that this is being done in a co-ordinated way as evidenced by the signing of a registration rights agreement."

Goldman, Sachs & Co. and UBS Investment Bank are acting as joint global coordinators and joint bookrunners for the combined offering and BMO Nesbitt Burns and J.P. Morgan Securities will act as co-managers for the combined offering. The terms of the combined offering are set forth in a prospectus filed today with the United States Securities and Exchange Commission. The prospectus relating to the combined offering may be obtained free of charge from the United States Securities and Exchange Commission's web site at www.sec.gov. Copies of the prospectus, when available, may be obtained from the offices of Goldman, Sachs & Co., 85 Broad Street, New York, New York 10004, telephone :[phone] and from UBS Securities LLC, 1285 Avenue of the Americas, New York, New York 10019-6028, telephone: [phone].

The combined offering may have a material effect on the price of AngloGold Ashanti's securities. Accordingly, AngloGold Ashanti shareholders are advised to exercise caution when dealing in AngloGold Ashanti's securities until a further announcement is made. The results of the combined offering, including the financial effects, will be published on completion.

Johannesburg

23 March 2006

JSE Sponsor : UBS

AngloGold Ashanti is a global gold company with a diversified portfolio of assets in key gold producing regions and operations in ten countries on four continents. The ordinary shares of AngloGold Ashanti are listed on the JSE Limited under the symbol "ANG", the NYSE in the form of ADSs, each representing one ordinary share, under the symbol "AU", the London Stock Exchange under the symbol "AGD", Euronext Paris under the symbol "VA", the Australian Stock Exchange in the form of CHESS depositary interests, each representing one-fifth of an ordinary share, under the symbol "AGG", the Ghana stock exchange under the symbol "AGA" and in the form of Ghanaian Depositary Shares under the symbol "AADS" and Euronext Brussels in the form of unsponsored international depositary receipts under the symbol "ANG BB". The principal executive office of AngloGold Ashanti Limited is located at 11 Diagonal Street, Johannesburg, 2001 (P.O. Box 62117, Marshalltown, 2107), South Africa, telephone number [phone].

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of the securities described herein, in any jurisdiction, including the United States, in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. AngloGold Ashanti has filed a registration statement in the United States under the Securities Act of 1933, as amended, in connection with the offer and sale of the securities described herein. Any public offering of the securities referred to herein to be made in the United States will be made by means of a prospectus and a related prospectus supplement that form part of this registration statement and that will contain detailed information about AngloGold Ashanti and its management, as well as financial statements.

This news release is for distribution only to persons who (i) have professional experience in matters relating to investments falling within Article 19(5) of the United Kingdom Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the "Financial Promotion Order"), (ii) are persons falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations etc") of the Financial Promotion Order, (iii) are outside the United Kingdom, or (iv) are persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the United Kingdom Financial Services and Markets Act 2000) in connection with the issue or sale of any securities may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as "relevant persons"). This news release is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this news release relates is available only to relevant persons and will be engaged in only with relevant persons.

This announcement includes "forward-looking information" within the meaning of Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements, including, without limitation those concerning: the economic outlook for the gold mining industry; expectations regarding gold prices, production, costs and other operating results; growth prospects and outlook of AngloGold Ashanti's operations, individually or in the aggregate, including the completion and commencement of commercial operations at AngloGold Ashanti's exploration and production projects; AngloGold Ashanti's liquidity and capital resources and expenditure; and the outcome and consequences of any pending litigation proceedings. These forward-looking statements are not based on historical facts, but rather reflect AngloGold Ashanti's current expectations concerning future results and events and generally may be identified by the use of forward-looking words or phrases such as "believe", "aim", "expect", "anticipate", "intend", "foresee", "forecast", "likely", "should", "planned", "may", "estimated", "potential" or other similar words and phrases. Similarly, statements that describe AngloGold Ashanti's objectives, plans or goals are or may be forward-looking statements.

These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the AngloGold Ashanti's actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by these forward-looking statements. Although AngloGold Ashanti believes that the expectations reflected in these forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct.

For a discussion of such risk factors, shareholders should refer to the annual report on Form 20-F for the year ended 31 December 2005, which was filed with the Securities and Exchange Commission on 20 March 2006. These factors are not necessarily all of the important factors that could cause AngloGold Ashanti's actual results to differ materially from those expressed in any forward-looking statements. Other unknown or unpredictable factors could also have material adverse effects on future results

Queries

Charles Carter [phone] [phone] [e-mail] Steve Lenahan [phone] [phone] [e-mail] Alan Fine [phone] [phone] [e-mail] In the U.K.: Rachel Hirst Hogarth Partnership [phone] [phone] [e-mail] In the U.S. Andrea Maxey [phone] [phone] [e-mail] Frank Sommerfield Sommerfield Communications [phone] [phone] [e-mail]



Disclaimer

Except for historical information contained herein, there are matters discussed in this news release that are forward-looking statements. Such statements are only predictions and actual events or results may differ materially. For discussion of important factors including, but not limited to development of the Company's business the economic outlook in the gold mining industry, expectations regarding gold prices and production, and other factors, which could cause actual results to differ materially from such forward-looking statements, refer to the Company's annual report on the Form 20-F for the year ended 31 December 2004 which is filed with the Securities and Exchange Commission on 14 July 2005. This announcement does not constitute an offer of any securities for sale.