RNS Number:0927S
Ashanti Goldfields Company Ld
14 November 2003





                            P R E S S R E L E A S E


FOR IMMEDIATE RELEASE 14 November 2003

MERGER UPDATE

On 27 October 2003, Ashanti Goldfields Company Limited ("Ashanti") announced
that the Board of Ashanti continued to recommend the revised merger proposal
from AngloGold Limited ("AngloGold"). As set out in the detailed announcements
of 4 August and 14 October 2003, the merger is conditional on the support of the
Government of Ghana ("Government"), both in its capacity as regulator and
shareholder of Ashanti. On 30 October 2003, AngloGold announced that the
Government had confirmed the principal terms of the agreement that it will enter
into as regulator of, and shareholder in, Ashanti.

In order to allow AngloGold and the Government time to finalise the formal
agreements regarding such undertakings and support, AngloGold and Ashanti have
agreed to extend the date on which the transaction agreement would have
otherwise terminated to 12 December 2003, or such later date as may be agreed by
AngloGold and Ashanti.

There can be no assurance that a transaction with AngloGold will be completed.
Consequently, shareholders of Ashanti are advised to exercise caution when
dealing in the relevant securities.

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For further information contact:

Ashanti Goldfields Company Limited
Srinivasan Venkatakrishnan (Venkat) Tel: +233 21 778 171
Kwaku Akosah-Bempah Tel: +233 21 778 173
Corinne Gaisie Tel: +44 20 7256 9938

Grandfield
UK Investors and Media
Charles Cook Tel: +44 20 7417 4170
Matthew Jervois

The Global Consulting Group
North American Contact
Allan Jordan Tel: +1 646 284 9452

CIBC World Markets
Andy Quinn Tel: +44 20 7234 6000

Certain statements in this announcement are forward-looking within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Although Ashanti believes that the
expectations reflected in such forward-looking statements are reasonable, no
assurance can be given that such expectations will prove to have been correct.

For a discussion of the important factors and risks involved in Ashanti's
business refer to Ashanti's filings with the U.S. Securities and Exchange
Commission (the "Commission"), including Ashanti's amended annual report on Form
20-F/A for the year ended 31 December 2002, filed with the Commission on 17 June
2003.

Ashanti does not undertake any obligation to update publicly any forward-looking
statements discussed in this announcement, whether as a result of new
information, future events or otherwise.



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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