ANGLOGOLD ASHANTI LIMITED: AngloGold Ashanti Revises Up First Quarter Outlook

ANGLOGOLD ASHANTI

AngloGold Ashanti Limited \ (Incorporated in the Republic of South Africa)
(Reg. No.1944/017354/06) \ ISIN Number: ZAE000043485

Corporate Affairs Department: \ 3rd Floor \ 76 Jeppe Street \ Johannesburg 2001 \ South Africa
Tel [phone] \ Fax [phone]/6400 \ www.AngloGoldAshanti.com

NEWS RELEASE

ANGLOGOLD ASHANTI REVISES UP FIRST QUARTER OUTLOOK

Following the stabilisation of Eskom power supply to South African operations
during the quarter, AngloGold Ashanti is forecasting first quarter production
of approximately 1.19 million ounces. The revised production outlook is around
8% above guidance provided at the fourth quarter results presentation. The
company has also fully delivered into maturing hedge contracts during the
quarter.

Commenting on the revised outlook, CEO Mark Cutifani said "Our first quarter
performance will speak to the superb job that our South African operating team,
in partnership with the unions and Eskom, has done in managing through a
difficult situation. We are successfully implementing a 4% energy saving
target, which will enable us to get back towards our 100% production objective,
even though we are working with a reduced power supply."

The company will revise guidance for 2008 with the first quarter results, which
will be released on 6 May 2008.

Johannesburg

4 April 2008

Queries

South Africa     Tel:             Mobile:          E-mail:                       
                                                                                 
Himesh Persotam  [phone]   [phone]   [e-mail]
                 6647             3890                                           
                                                                                 
Alan Fine        [phone]   [phone]   [e-mail]    
                 6383             0757                                           

Certain statements made during this communication, including, without
limitation, those concerning the economic outlook for the gold mining industry,
expectations regarding gold prices, production, cash costs and other operating
results, growth prospects and the outlook of AngloGold Ashanti's operations
including the completion and commencement of commercial operations of certain
of AngloGold Ashanti's exploration and production projects, and its liquidity
and capital resources and expenditure, contain certain forward-looking
statements regarding AngloGold Ashanti's operations, economic performance and
financial condition. Although AngloGold Ashanti believes that the expectations
reflected in such forward-looking statements are reasonable, no assurance can
be given that such expectations will prove to have been correct. Accordingly,
results could differ materially from those set out in the forward-looking
statements as a result of, among other factors, changes in economic and market
conditions, success of business and operating initiatives, changes in the
regulatory environment and other government actions, fluctuations in gold
prices and exchange rates, and business and operational risk management. For a
discussion of such factors, refer to AngloGold Ashanti's annual report for the
year ended 31 December 2007, which was distributed to shareholders on 31 March
2008.  AngloGold Ashanti undertakes no obligation to update publicly or release
any revisions to these forward-looking statements to reflect events or
circumstances after today's date or to reflect the occurrence of unanticipated
events.

In connection with the proposed merger transaction involving AngloGold Ashanti
and Golden Cycle Gold Corporation, AngloGold Ashanti has filed with the SEC a
registration statement on Form F-4 and GCGC will mail a proxy statement/
prospectus to its stockholders, and each will be filing other documents
regarding the proposed transaction with the U.S. Securities and Exchange
Commission ("SEC") as well. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION,
INVESTORS ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS REGARDING THE
PROPOSED TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS CAREFULLY WHEN THEY
BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE
PROPOSED TRANSACTION. The final proxy statement/prospectus will be mailed to
GCGC's stockholders. Stockholders will be able to obtain a free copy of the
proxy statement/prospectus, as well as other filings containing information
about AngloGold Ashanti and GCGC, without charge, at the SEC's Internet site
(http://www.sec.gov). Copies of the proxy statement/prospectus and the filings
with the SEC that will be incorporated by reference in the proxy statement/
prospectus can also be obtained, without charge, by directing a request to
AngloGold Ashanti, 76 Jeppe Street, Newtown, Johannesburg, 2001 (PO Box 62117,
Marshalltown, 2107) South Africa, Attention: Investor Relations, +27 11 637
6385, or to Golden Cycle Gold Corporation, 1515 S. Tejon, Suite 201, Colorado
Springs, CO 80906, Attention: Chief Executive Officer, [phone]



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