Senior Management Changes

RNS Number:2097T
Ashanti Goldfields Company Ld
12 December 2003


P R E S S R E L E A S E


FOR IMMEDIATE RELEASE 12 DECEMBER 2003



ASHANTI ANNOUNCES SENIOR MANAGEMENT CHANGES

Ashanti Goldfields Company Limited ("Ashanti" or the "Company") regrets to
announce that Mr Trevor Stanley Schultz, the Chief Operating Officer and Mrs
Eleanor Darkwa Ofori Atta, Executive Director - Corporate Relations formally
retire from the Company on 31 December 2003 and both would step down as
directors of the Company with effect from that date. Ashanti wishes them a
healthy and happy retirement.

On the operations front, Mr Daniel Monney Akwafo Owiredu has been appointed as
the Acting Chief Operating Officer with effect from 1 January 2004.

Mr Owiredu, 46, is a mechanical engineer by profession with nineteen years'
experience in the mining sector. He joined Ashanti in 1984 and has since served
in various senior roles at Ashanti's Obuasi, Bibiani and Siguiri operations. In
particular, he was instrumental in the setting up of Obuasi's BIOX(R) plant
(currently the world's largest) from design to commissioning. He project-managed
the Bibiani operation from greenfield through design, construction and
commissioning and was later appointed its Managing Director from 1998 till early
2002, when he rotated to Siguiri as managing director. In July 2002, he was
appointed Managing Director of Obuasi/Ayanfuri operations.

Daniel holds a BSC degree in Mechanical Engineering from the Kwame Nkrumah
University of Science & Technology in Ghana and an MBA degree from Strathclyde
Business School in Scotland, UK.

Ashanti's board and management wish to congratulate and welcome Daniel to this
new role.

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Enquiries


Ashanti Goldfields Company Limited

Ernest Abankroh, Company Secretary Tel: +(233) 21 774977
Kwaku Akosah-Bempah, AG. MD - Public Affairs Tel: +(233) 21 778173
Corinne Gaisie Tel: [phone]


The Global Consulting Group

North American Contact

Allan Jordan Tel: [phone]



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