Interim Results

RNS Number:2385Z
Griqualand West Diamond Mng Co Ld
29 July 2002

GRIQUALAND WEST DIAMOND MINING COMPANY DUTOITSPAN MINE LIMITED

Incorporated in the Republic of South Africa

Company Registration No. 1880/000013/06

INTERIM REPORT FOR THE HALF-YEAR ENDED 30 JUNE 2002

--------------------------------------------------------------

INCOME STATEMENT

For the half-year ended 30 June 2002

Abridged and unaudited

                                                               Half-year         
Half-year             Year
                                                                  June              
June               Dec
                                                                  2002              
2001               2001
                                                                   R                 
R                  R
Amount received from holding company in terms of                  42 280            
42 280             84 560
working agreement
Dividend and interest income                                       3 720             
3 052              6 057
Surplus on disposal of investment in holding company                   -             
7 344              7 344
                                                                  46 000            
52 676             97 961
Deduct:
Expenses                                                             600             
  600              4 350
Net income before taxation                                        45 400            
52 076             93 611
Deduct:
Taxation                                                          16 372            
16 099             31 451
Attributable earnings                                             29 028            
35 977             62 160
Deduct:
Surplus on disposal of investment in holding company                   -             
7 344              7 344
Headline earnings                                                 29 028            
28 633             54 816
Number of shares in issue                                        105 700           
105 700            105 700
Earnings per share
Attributable                                                       27,5c             
34,0c              58,8c
Headline                                                           27,5c             
27,1c              59,9c
Dividends per share
Interim                                                            20,5c             
20,5c              20,5c
Final                                                                  -             
    -              21,0c
                                                                   20,5c             
20,5c              41,5c
Dividends payable                                                R21 669           
R21 669            R43 865

BALANCE SHEET

30 June 2002

Abridged and unaudited

                                                               Half-year         
Half-year             Year
                                                                  June              
June               Dec
                                                                  2002              
2001               2001
                                                                   R                 
R                  R
Capital employed
Share capital
105 700 shares of R20 each                                     2 114 000          2
114 000          2 114 000
Distributable reserves                                            70 315            
58 968             62 955
                                                               2 184 315          2
172 968          2 176 955
Represented by
Fixed assets                                                   2 111 722          2
111 722          2 111 722
Net current assets                                                72 593            
61 246             65 233
Current assets                                                   131 609           
116 587            125 021
Amount due by holding company                                    112 837           
101 484            105 508
Cash                                                              18 772            
15 103             19 513
Current liabilities                                               59 016            
55 341             59 788
Shareholders for unpaid and unclaimed dividends                   46 104            
42 099             47 038
Creditors                                                          9 617            
10 333             10 106
Tax                                                                3 295             
2 909              2 644
                                                               2 184 315          2
172 968          2 176 955

The Company holds the right to mine the Dutoitspan diamond mine which it leases
to De Beers Consolidated Mines Limited, in terms of an agreement dated 30 August
1889, for an annual consideration of R84 560 and it is anticipated that the
results for the second half of the year will be approximately the same as for
the first half.

CANCELLATION OF LONDON STOCK EXCHANGE LISTING

In a letter dated 2 July 2002 shareholders were informed of the board's decision
to arrange for the cancellation of the listing of the Company's shares on the
Official List of the UK Listing Authority with effect from Friday, 2 August
2002. After that date trading of the Company's shares on the London Stock
Exchange will no longer be possible.

Following cancellation of the listing of the Company's shares, the United
Kingdom section of the share register will be closed and the names and addresses
contained therein will in future be administered from the principal share
register maintained by the Company at its registered office in South Africa,
details of which are included below. However, arrangements have been made to
ensure that those shareholders with registered addresses in Europe (including
the United Kingdom), or who have mandated dividend payments to addresses in
Europe (including the United Kingdom), will continue to receive payment of their
dividends in United Kingdom currency and that any existing dividend mandates
remain in place.

For and on behalf of the board

N.F. OPPENHEIMER

G.M. RALFE

Directors

29 July 2002

Registered Office

36 Stockdale Street, Kimberley 8301, South Africa

Secretaries and South African Share Transfer Secretaries

De Beers Consolidated Mines Limited

36 Stockdale Street, Kimberley 8301, South Africa

(P.O. Box 616, Kimberley 8300)

Telephone: [phone]

Facsimile: [phone]

London Secretary

J.C. Greensmith

17 Charterhouse Street, London EC1N 6RA, England

Telephone: [phone]

Facsimile: [phone]

United Kingdom Registrar (until 2 August 2002)

Computershare Investor Services PLC

P.O. Box 82, The Pavilions, Bridgwater Road, Bristol BS99 7NH, England

Telephone: [phone]

Facsimile: [phone]

--------------------------------------------------------------




                      This information is provided by RNS
            The company news service from the London Stock Exchange

END

IR RLMITMMBTBBT