Directorate Change

ANGLOVAAL MINING LIMITED

'Avmin'

Directorate changes

Subsequent to the disposal by Arctic Resources Limited of its 9,9 per cent
interest in Avmin on 12 May 2003 Messrs B Frank and BM Menell have tendered
their resignations as directors of this Company.

The board has accepted these resignations with regret.

RH Phillips

Group company secretary

16 May 2003