Overwhelming Rejection of The Proposed IAMGold Transaction

Overwhelming Rejection of The Proposed IAMGold Transaction
Harmony Calls for Recommendation of The Proposed Merger 


JOHANNESBURG, South Africa, Dec. 7  /PRNewswire-FirstCall/ -- Harmony Gold
(NYSE: "HMY"; JSE: "HAR") welcomes the rejection by Gold Fields (NYSE: "GFI";
JSE: "GFI") shareholders of the resolutions proposed in relation to the now
defeated IAMGold transaction.  This was achieved despite the attempt by Gold
Fields' management to force through the IAMGold resolutions by:

  -- failing to honor the provisions of Gold Fields' contract with its
     depository bank, the Bank of New York, to give notice of the
     substantial opposition to the proposed IAMGold transaction; and
  -- refusing to recognize Harmony's holding of approximately 11.8% in Gold
     Fields.



Harmony considers that this result represents a decisive rejection of the
corporate strategy that Gold Fields' management has put before its shareholders
and is therefore an overwhelming vote of no confidence in Gold Fields'
management.

Harmony believes that Gold Fields' management should now abandon its
ill-conceived defense, which has been focused on a series of expensive legal
challenges to Harmony's offers aimed solely at removing Gold Fields
shareholders' ability to decide on the merits of Harmony's offers for
themselves.

Harmony urges Gold Fields' management to enter into discussions aimed at
reaching agreement on the terms of a recommended merger between Harmony and
Gold Fields.

CE Bernard Swanepoel said:

"Gold Fields shareholders have now spoken.  With this behind us, we now look
forward to engaging with Gold Fields' management to agree the terms of a
recommended merger of our two companies.

This will remove the uncertainty currently in the market, allowing our shares
to return to their true underlying value and will create the world's premier
gold mining company, a must-have investment for gold and non-gold investors
alike."

Unless the context otherwise requires, the definitions contained in the offer
document or the registration statement sent to Gold Fields shareholders have
the same meaning in this announcement.

In connection with the proposed merger, Harmony has filed with the U.S.
Securities and Exchange Commission ("SEC"), a registration statement on Form
F-4, which includes a preliminary prospectus and related exchange offer
materials, to register the Harmony ordinary shares (including Harmony ordinary
shares represented by Harmony ADSs) to be issued in exchange for the remainder
of Gold Fields ordinary shares held by Gold Fields shareholders resident in the
United States and for Gold Fields ADSs held by Gold Fields shareholders
wherever resident, as well as a Statement on Schedule TO.  Investors and
holders of Gold Fields securities are strongly advised to read the registration
statement and the preliminary prospectus, the related exchange offer materials
and the final prospectus (when available), the Statement on Schedule TO and any
other relevant documents filed with the SEC, as well as any amendments and
supplements to those documents, because they contain important information. 
Investors and holders of Gold Fields securities may obtain free copies of the
registration statement, the preliminary and final prospectus (when available)
and related exchange offer materials and the Statement on Schedule TO, as well
as other relevant documents filed or to be filed with the SEC, at the SEC's web
site at http://www.sec.gov/.  The preliminary prospectus and other
transaction-related documents may be obtained for free from MacKenzie Partners,
Inc., the information agent for the U.S. offer, at the following address: 105
Madison Avenue, New York, New York 10016; telephone [phone] (call
collect) or 1 800 322 2885 (toll-free call); e-mail .

This communication is for information purposes only.  It shall not constitute
an offer to purchase or exchange or the solicitation of an offer to sell or
exchange any securities of Gold Fields or an offer to sell or exchange or the
solicitation of an offer to buy or exchange any securities of Harmony in the
US, nor shall there be any sale or exchange of securities in any jurisdiction
in which such offer, solicitation or sale or exchange would be unlawful prior
to the registration or qualification under the laws of such jurisdiction.  The
distribution of this communication may, in some countries, be restricted by law
or regulation.  Accordingly, persons who come into possession of this document
should inform themselves of and observe these restrictions.  The solicitation
of offers to buy Gold Fields ordinary shares (including Gold Fields ordinary
shares represented by Gold Fields ADSs) in the US will only be made pursuant to
a prospectus and related offer materials that Harmony has sent to holders of
Gold Fields securities.  The Harmony ordinary shares (including Harmony
ordinary shares represented by Harmony ADSs) may not be sold, nor may offers to
buy be accepted, in the US prior to the time the registration statement becomes
effective.  No offering of securities shall be made in the US except by means
of a prospectus meeting the requirements of Section 10 of the United States
Securities Act of 1933, as amended.

Forward-looking Statements

Statements in this announcement include "forward-looking statements" that
express or imply expectations of future events or results.  Forward-looking
statements are statements that are not historical facts.  These statements
include financial projections and estimates and their underlying assumptions,
statements regarding plans, objectives and expectations with respect to future
operations, products and services, and statements regarding future performance.
 Forward-looking statements are generally identified by the words "expect,"
"anticipates," "believes," "intends," "estimates" and similar expressions.  All
forward-looking statements involve a number of risks, uncertainties and other
factors, and Harmony cannot give assurances that such statements will prove to
be correct.  Risks, uncertainties and other factors that could cause actual
events or results to differ from those expressed or implied by the
forward-looking statements include, without limitation, the satisfaction of
closing conditions, the acceptance or rejection of any agreement by regulators,
delays in the regulatory processes, changes in the economic or political
situation in South Africa, the European Union, the US and/or any other relevant
jurisdiction, changes in the gold industry within any such country or area or
worldwide and the performance of (and cost savings realized by) Harmony. 
Although Harmony's management believes that the expectations reflected in such
forward-looking statements are reasonable, investors and holders of Gold Fields
securities are cautioned that forward-looking information and statements are
subject to various risks and uncertainties, many of which are difficult to
predict and generally beyond the control of Harmony, that could cause actual
results and developments to differ materially from those expressed in, or
implied or projected by, the forward-looking information and statements.  These
risks and uncertainties include those discussed or identified in the public
filings with the SEC made by Harmony and Gold Fields, including those listed
under "Cautionary Statement Concerning Forward-Looking Statements" and "Risk
Factors" in the preliminary prospectus included in the registration statement
on Form F-4 that Harmony has filed with the SEC.  Harmony does not undertake
any obligation to update any forward-looking information or statements. You may
obtain a free copy of the registration statement and preliminary and final
prospectus (when available) and other public documents filed with the SEC in
the manner described above.

The directors of Harmony accept responsibility for the information contained in
this announcement.  To the best of the knowledge and belief of the directors of
Harmony (who have taken all reasonable care to ensure that such is the case),
the information contained in this announcement is in accordance with the facts
and does not omit anything likely to affect the import of such information. 

DATASOURCE: Harmony Gold



CONTACT:  (direct line, mobile, email) - Harmony Gold - Ferdi Dippenaar,

[phone], or [phone], or Corne Bobbert, [phone], or

[phone]; or South Africa - Jennifer Cohen, [phone], or

[phone], , or Patrick Lawlor, [phone], or

[phone], , both of Beachhead Media & Investor

Relations; or United States - Hollis Rafkin-Sax, [phone], or

[phone], , or Torie Pennington, [phone],

or [phone], , both of Financial Dynamics Business

Communications; or United Kingdom - Nic Bennett, [phone], or

[phone], , or Charles Watenphul, [phone],

or [phone], , both of Financial Dynamics

Business Communications; or US Information Agent - Daniel Burch,

[phone], , or Steve Balet, 1-800-322-2885,

both of MacKenzie Partners, Inc

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