AngloGold Limited

(Incorporated in the Republic of South Africa)

(Registration Number: 1944/017354/06)

ISIN Number:ZAE000043485

JSE Share Code: ANG

ANGLOGOLD TO HOLD A POSITION IN QUEENSTAKE UPON CLOSING

OF THE SALE OF THE JERRITT CANYON JOINT VENTURE

New York - June 3, 2003 - AngloGold (NYSE:AU) today announced, further to its
June 2, 2003 announcement regarding the sale of AngloGold's interests in the
Jerritt Canyon Joint Venture to Queenstake Resources U.S.A. Inc., a subsidiary
of Queenstake Resources Ltd., that upon closing of the transaction, AngloGold
may beneficially own more than 10% in the outstanding stock of Queenstake
Resources Ltd. Queenstake has announced its intention to finance this purchase
in part by a $15 to $20 million brokered equity financing. The closing of the
Jerritt Canyon transaction is scheduled for June 25, 2003, at which time
Queenstake will issue to AngloGold's subsidiary, AngloGold (Jerritt Canyon)
Corp., 22,400,000 common shares of Queenstake Resources Ltd. Based on the
current market price of Queenstake's common shares, the shares acquired by
AngloGold will represent, between approximately 10.3% and 11.8% (undiluted) of
the outstanding shares after giving effect to the financing. AngloGold does not
currently have any intention to acquire additional shares of Queenstake;
depending, however, on the market price of Queenstake shares, general economic
and industry conditions and other factors, and subject to applicable securities
laws, AngloGold may either sell its shares of Queenstake or acquire additional
shares.

All dollar figures herein are expressed in U.S. dollars.

ENDS

Disclaimer

Except for the historical information contained herein, there are matters
discussed in this news release that are forward-looking statements. Such
statements are only predictions and actual events or results may differ
materially. For a discussion of important factors including, but not limited
to, development of the Company's business, the economic outlook in the gold
mining industry, expectations regarding gold prices and production, and other
factors, which could cause actual results to differ materially from such
forward-looking statements, refer to the Company's annual report on Form 20-F
for the year ended December 31, 2002, which was filed with the Securities and
Exchange Commission on April 7, 2003.



END