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Senior management changes – Anglo American South Africa Lazarus Zim to pursue platinum BEE venture

At the end of 2005, Anglo American plc announced the restructuring of its operations, focusing on a core group of mining activities. With regard to Platinum, Anglo American also announced that it is exploring options as to how growth and investment can best be supported alongside an appropriate BEE transaction. Lazarus Zim, CEO of Anglo American South Africa (AASA) has indicated a desire to become involved in the future empowerment of the mining sector and specifically with the BEE structures being developed for Anglo Platinum. Given his extensive past experience in Africa, he also intends to establish his own Pan African investment vehicle.

When the proposals for a further Platinum empowerment transaction have been developed, it is envisaged that Lazarus will play a key role in creating a broad based Platinum empowerment consortium alongside Anglo Platinum's existing BEE partners.

In support of these intentions, AASA and Lazarus have agreed that he should relinquish his executive responsibilities in the Group and his directorship of Anglo Platinum. However, it is our joint intention that he will maintain a strong involvement with the Group. He will be Chairman of Kumba Iron Ore, a member of the AASA board and Chairman of its Transformation Committee and a board member of AngloGold Ashanti and Mondi South Africa. In addition, Lazarus will work closely with Anglo American to develop further business opportunities in other parts of Africa and he will also carry out various consulting duties for the group. Anglo will continue to support him in his role as President of the Chamber of Mines.

Philip Baum is appointed Acting CEO of AASA, as well as continuing as Chairman of the Ferrous Metals and Industries division. Philip will work closely with Lazarus and the Transformation Committee on further transformation, employment equity, BEE procurement and support for small and medium enterprises.

Tony Trahar, CEO Anglo American plc, has decided that, in view of his increasing global responsibilities, the time is right for him to stand down as Chairman of AASA and we are delighted that Fred Phaswana, a non-executive director of Anglo American plc and Chairman of Transnet, has agreed to serve in this role and will continue as a member of the Transformation Committee.

These changes take effect on 1 May 2006.

Commenting, Tony Trahar said “Lazarus has achieved great success in a relatively short time with the Group. We are delighted that he will work with Anglo Platinum and AASA on transformation projects and that he will continue to have a very close association with the Group as a board member of AASA and in working with us on other business development activities”.

Lazarus Zim commented “I have really enjoyed my executive role with Anglo and have enjoyed leading the transformation of the Group both internally and externally. The next phase of my relationship with Anglo is very exciting and I look forward to becoming involved in a further platinum empowerment transaction as well as working with the Group on other business development activities throughout Africa. I am truly grateful to Anglo American for affording me this great opportunity. I wish Fred and Philip every success in their new roles”.

Notes to Editors:

Anglo American plc is one of the world's largest mining and natural resource groups. With its subsidiaries, joint ventures and associates, it is a global leader in platinum, gold and diamonds, with significant interests in coal, base and ferrous metals, industrial minerals and paper and packaging. The group is geographically diverse, with operations in Africa, Europe, South and North America, Australia and Asia. (www.angloamerican.co.uk)