Statement re Further Cautionary Announcement

ANGLOVAAL MINING

(Registration number 1933/004580/06)

(Incorporated in the Republic of South Africa)

Share codes: South Africa AIN

London Stock Exchange: AGM

('Avmin' or the 'Company')

Further cautionary announcement

Further to the cautionary announcement of 9 April 2003 shareholders are advised
that negotiations with J&W Holdings AG (incorporated in Switzerland) for the
potential acquisition of Avmin's 90 per cent stake in Chambishi Metals plc are
continuing.

Shareholders are advised to continue to exercise caution in dealings in the
Company's securities until a further announcement is made.

Johannesburg, South Africa

21 May 2003

Sponsor

Deutsche Securities

Member of the Deutsche Bank Group

Deutsche Securities (SA) (Proprietary) Limited

(Registration number 1995/011798/07)