Issued by Harmony Gold Mining Company Limited JSE: HAR | NYSE: HMY Web site: www.harmony.co.za Chart: HMY PRESS RELEASE For release on Wednesday 11 December 2002 JOINT ANNOUNCEMENT by Harmony Gold Mining Co. Ltd. and MINTEK HARMONY AND MINTEK JOIN FORCES TO CREATE MUSUKU BENEFICIATION SYSTEMS Johannesburg - 11 December 2002 - Harmony Gold Mining Company Limited ("Harmony") (NYSE: HMY), the fifth largest gold producer in the world, and Mintek, the leader in minerals and metals technology in South Africa, today announced that the parties had signed a Memorandum of Understanding to create Musuku Beneficiation Systems, an integrated manufacturing and technology group focussing on the beneficiation of precious metals. Musuku, meaning gold in Venda, will introduce, through a combination of specialised refining technologies and standardised business management practices, a major paradigm shift in the way precious metals are processed by primary precious metals producers. It will provide the management, operational and technical services necessary to profitably integrate value-adding processes into the gold mining industry. This approach will not only be applied to South Africa, but also to other countries where precious metals play a significant role in their economies, and where the use of their developed technologies can be deployed. This is expected to unlock significant value in the value chain of the precious metals industry and help South Africa gain a dominant position in the downstream value-adding industries such as jewellery manufacture and industrial applications for precious metals. In support of the recently announced Mining Charter, this new venture for the first time represents a significant opportunity for the participation of a Black Economic Empowerment company in the beneficiation of precious metals in South Africa. "Through the Musuku initiative, it is anticipated that the operational expertise of the two companies, in the area of beneficiation of precious metals, will be leveraged to create a globally competitive value adding business," said Paul Jordan, President and Chief Executive Officer of Mintek. Harmony, the only producer to refine and market its own gold, recently upgraded its refinery in the Virginia to produce in excess of 100 tons of refined gold per annum. A large range of value-added products are currently produced for the local and export markets. "The creation of this business venture is the next logical step in extending the competitive advantage we have established over the past few years, to a larger market," commented Ferdi Dippenaar, Harmony's Marketing Director. "Our company has embarked on and supported a range of beneficiation projects which have resulted in benefits to all our stakeholders, i.e. our shareholders, the local communities in which we operate, and the local jewellery manufacturing companies. In addition these activities are creating employment opportunities in the Free State goldfields, an area which has a high level of poverty, and has an economy that needs to be regenerated following the downscaling of the mining activities in the region," he concluded. For more details contact: Ferdi Dippenaar on +27(0)82 807 3684 or Dr Nic Barcza on +27(0)11 709 4680 Web site: www.harmony.co.za Chart: HMY ISIN No.: ZAE000015228 JSE: HAR | NYSE: HMY Disclaimer This document includes certain information that is based on management's reasonable expectations and assumptions. These "forward-looking statements" include, but are not limited to, statements regarding estimates, intentions and beliefs, as well as anticipated future production, mine life, market conditions and costs. While management has prepared this information using the best of their experience and judgment, and in all good faith, there are risks and uncertainties involved which could cause results to differ from projections. Cautionary Note to US Investors - The United States Securities and Exchange Commission (the "SEC") permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We may use certain terms in this document, such as "resources", that the SEC guidelines strictly prohibit us from including in our filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our public filings with the SEC available from us at Harmony Gold Mining Company Limited, Suite Nr. 1, Private Bag X 1, Melrose Arch, 2076 South Africa, for the attention of: Mr. Ferdi Dippenaar, Commercial Director. You can also obtain these filings from the SEC by calling 1-800-SEC-0330. -30- Issued by Harmony Gold Mining Company Limited