AngloGold Limited

Registration Number: 1944/017354/06

Incorporated in the Republic of South Africa)

ISIN Number:ZAE000043485

JSE Share Code: ANG

NYSE Ticker: AU

ANGLOGOLD CONCLUDES SALE OF INTEREST IN JERRITT CANYON JOINT VENTURE

AngloGold today announced that it has concluded the transaction with Queenstake
Resources U.S.A. Inc. for the sale of its interests in the Jerritt Canyon Joint
Venture. This follows the receipt by the Jerritt Canyon joint venture partners
of a second unsolicited offer from Queenstake. AngloGold owns 70% of the joint
venture and is the operator and managing partner of the Jerritt Canyon Mine.

Under the terms of the purchase and sale agreement, Queenstake paid the Jerritt
Canyon Joint Venture $1.5 million in cash and 32 million shares of Queenstake
common stock at closing, with $6 million in deferred payments and approximately
$4 million in future royalty payments. Queenstake accepted full closure and
reclamation liabilities and posted surety bonds totalling $33.5 million with
the regulatory agencies. Permits for the operation of the mine were transferred
to Queenstake effective June 30, 2003.

For the year ended December 31, 2002, Jerritt Canyon produced 237,000
attributable ounces of gold at a total cash cost of $249 per ounce.

Johannesburg

2 July 2003

JSE Sponsor: UBS

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