Disposal to Zambia Copper Assets

Zambia Consolidated Copper Mines Ld
Zambia Copper Investments Limited (ZCI)
27 January 2000


ISSUED BY 
ZAMBIA CONSOLIDATED COPPER MINES LIMITED (ZCCM) AND
ZAMBIA COPPER INVESTMENTS LIMITED (ZCI)

SALE OF NCHANGA AND KONKOLA DIVISIONS OF ZAMBIA
CONSOLIDATED COPPER MINES LIMITED AND ITS
NAMPUNDWE MINE ON COURSE

LUSAKA, ZAMBIA: THURSDAY 27 JANUARY 2000

Zambia Consolidated Copper Mines Limited (ZCCM) and Zambia Copper Investments
Limited (ZCI) wish to confirm that satisfactory progress has been made towards
the completion of the sale of the assets of Nchanga Division (including the
Chingola Refractory Ores), Konkola Division (including the Konkola Deep Mining
Project) and the Nampundwe pyrite mine, to ZCI and partners.

However, a number of conditions precedent to closure of this very complex
transaction have still to be satisfied. These include the finalisation of
arrangements between ZCI and its financial partners, and the finalisation of a
number of subsidiary commercial and other agreements.

It will therefore not be possible to achieve closure by the anticipated date of
31 January 2000.

The parties remain committed to the transaction and are devoting all their
resources to finalising all outstanding matters. It is currently expected that
closure of the transaction will be achieved within the month of February 2000.

Enquiries:

Lusaka:
Mr Francis Kaunda
Chairman of the GRZ/ZCCM Privatisation Negotiating Team
[phone]

London (Anglo American plc)
Mr Nick von Schirnding       Ms Misha Naglemackers:
Tel: [phone]        Tel: [phone]

Johannesburg (Anglo American Corporation/ZCI)
Mrs Anne Dunn                Mrs Glen Finnegan
[phone]              [phone]
[phone]           [phone]