Anglo Platinum wishes to announce that it estimates headline earnings for the year ended 31 December 2001 to be R8 billion (US$930 million) as a result of the significant weakening of the Rand over the 2001 financial year and in particular during December 2001.
Anglo Platinum sells its products in dollars and headline earnings are increased if, during the course of the year, the exchange rate weakens before dollar revenues are converted to Rand. In addition headline earnings have been affected by the increase in the Rand value of dollar-based assets valued at year-end closing exchange rates.
The Company will release its 2001 results on Tuesday 19 February 2002.
For further information, please contact
Mike Mtakati
(011) 373-6865
083 455 6887