The board of Ashanti Goldfields Company Limited ('Ashanti') notes recent press comment and confirms that it has received an indicative proposal from Randgold Resources Limited ('Randgold') to acquire the issued share capital of Ashanti through a scheme of arrangement at a proposed ratio of one Randgold ordinary share for every two Ashanti ordinary shares. This indicative proposal is conditional on, amongst other things, mutual due diligence by the two companies.

These preliminary discussions are at an early stage and may or may not lead to a formal proposal being made or an agreement being reached. Consequently, holders of Ashanti securities are advised to exercise caution when dealing in the relevant securities.

As announced on 4 August 2003, Ashanti has entered into a transaction agreement with AngloGold Limited ('AngloGold') which it continues to progress.

A further announcement will be made in due course.

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 or release any revisions to publicly update any forward-looking statements discussed in this announcement, whether as a result of new information, future events or otherwise.