M E D I A
R E L E A S E
Gold Fields Limited
Reg. 1968/004880/06
24 St Andrews Road
Parktown, 2193
Postnet Suite 252
Private Bag X30500
Houghton, 2041
South Africa
Tel +27 11 644-2400
Dir +27 11 644-2460
Fa +27 11 484-0639
www.goldfields.co.za
Enquires
South Africa
Willie Jacobsz
Tel +27 11 644-2460
Fa +27 11 484-0639
North America
Cheryl A Martin
Tel +1 303 796-8683
Fa +1 303 796-8293
Gold Fields welcomes decision of
Competition Appeal Court
Johannesburg, 26 November 2004. The Board of Directors (the "Board") of Gold Fields Limited (GFI: JSE and NYSE) welcomed the decision of the Competition Appeal Court in South Africa (the `Court") that the early settlement offer by Harmony Gold Mining Company ("Harmony") for Gold Fields is a notifiable merger for competition purposes and may not be implemented prior to its notification and approval.
In their ruling, the Court interdicted and restrained Harmony from voting or exercising any rights attaching to any Gold Fields shares which it may acquire under the early settlement offer or otherwise until approval for the early settlement offer has been obtained from the competition authorities.
Harmony was also ordered to pay Gold Fields' costs.
Ian Cockerill, Chief Executive of Gold Fields, commented:
"We have been vindicated. Our objective from the outset has been to protect our shareholders' interests. This ruling upholds our view that the nature of Harmony's hostile two-stage offer was unfair and designed to evade proper regulatory scrutiny and disenfranchise the majority of our shareholders.
This is a victory for shareholder democracy. It is also a victory for South Africa and proof of the strength of its regulatory environment.
We urge shareholders to reject the Harmony offer; keep their options open and not tender their shares."
ends
For more information please visit
http:// www.
goldfields. co .za
Directors: C M T Thompson* (Chairman), A J Wright (Deputy Chairman), I D Cockerill
(Chief Executive Officer),K Ansah
#
, G J Gerwel, N J Holland
(Chief
Financial Officer), J M McMahon
, G R Parker
, R L Pennant-Rea
, P J Ryan, T M G Sexwale, B R van Rooyen, C I von Christierson
*Canadian,
British,
American,
#
Ghanaian.
Corporate Secretary: C Farrel