Disposal

Anglo American PLC
21 January 2003

News Release

21 January 2003


      Anglo American announces intention to sell stake in Anaconda Nickel


Anglo American plc ("Anglo American") announces that it has signed a Pre-Bid
Agreement with a wholly-owned subsidiary of MatlinPatterson Global Opportunities
Partners LP ("MatlinPatterson") in terms of which, subject to satisfaction of
the conditions to a proposed takeover offer by MatlinPatterson for Anaconda
Nickel Limited ("Anaconda"), Anglo American will dispose of its entire rights
entitlement and substantially all of its shareholding in Anaconda for a total
consideration of approximately A$23.9 million (approx. US$14.0 million).

It is Anglo American's present intention, in the absence of a higher offer, to
accept the MatlinPatterson offer for the balance of its shareholding should the
MatlinPatterson offer go unconditional, which would realise a further A$4.6
million (approx. US$2.7 million) at the current offer price.  However, Anglo
American has no agreement or understanding with MatlinPatterson to that effect.

Under the Pre-Bid Agreement (the terms of which are summarised in
MatlinPatterson's announcement of 21 January 2003), Anglo American will also
have the opportunity to accept a higher offer if made in certain circumstances.

For further information:

Anglo American - London
Investor Relations                               Media Relations
Nick von Schirnding                              Kate Aindow
Tel:  [phone]                           Tel:  [phone]

Anglo American - Johannesburg
Investor Relations                               Media Relations
Anne Dunn                                        Marion Dixon
Tel:  [phone]                            Tel:  [phone]


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 gold, platinum group metals and diamonds, with significant interests
in coal, base and ferrous metals, industrial minerals and forest products. The
group is geographically diverse, with operations in Africa, Europe, South and
North America and Australia. (www.angloamerican.co.uk)


                      This information is provided by RNS
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