Media releases

Changes to the board of directors

Details

Published: Tuesday, 15 February 2005 02:00

The Board of DRDGOLD Limited has announced the appointment of Dr Paseka Ncholo as Non-Executive Chairman
Johannesburg, South Africa. 15 February 2005. DRDGOLD Limited (JSE:DRD; NASDAQ: DROOY; ASX: DRD; POM SoX: DRD).

The Board of DRDGOLD Limited has announced the appointment of Dr Paseka Ncholo as Non-Executive Chairman.

In a statement issued today, the Board said Dr Ncholo’s appointment was in line with a recommendation contained in the second report of the King Committee on Corporate Governance (King 2) that a company should engage the services of a non-executive chairman.

Commenting on his appointment, Dr Ncholo said: “I assume the chairmanship at a most testing time not only for DRDGOLD in respect of its South African gold mining interests but for the whole of the South African gold mining sector. I hope to be able to bring my experience at the marginal end of gold mining to bear on the re-positioning of DRDGOLD in South Africa that the continued weakening of the Rand gold price dictates.”

Dr Ncholo was appointed a non-executive director of DRDGOLD in March 2002. He is a director of Crown Gold Recoveries(Pty) Limited and a non-executive director of Mvelaphanda Resources Limited.

Prior to becoming Chairman of Khumo Bathong Holdings (Pty)Limited and East Rand Proprietary Mines Limited in 1999, Dr Ncholo was Director-General of the South African Department of Publ,ic Service and Administration. He was awarded his doctorate in law in 1992 and admitted as an advocate of the High Court of South Africa in 1994.

In other moves announced today, DRDGOLD’s Executive Chairman, Mark Wellesley-Wood, is to re-assume the role of Chief Executive Officer from Ian Murray, who remains an executive director of DRDGOLD with responsibility for corporate development.

Queries:

South Africa
Investor and Media Relations
Ilja Graulich, DRDGOLD
+27 11 381 7826 (office)
+27 83 604 0820 (mobile)

James Duncan, Russell & Associates
+27 11 880 3924 (office)
+27 82 892 8052 (mobile)

North America
Investor Relations
Susan Borinelli, Breakstone & Ruth International
+1 646-536-7018 (office)
+1 917-570-8421 (mobile)

Media Relations
Barbara Cano, Breakstone & Ruth International
+1 646-536-7002 (office)
+1 347-423-5859 (mobile)

Australasia
Investor and Media Relations
Paul Downie, Porter Novelli
+61 893 861 233 (office)
+61 414 947 129 (mobile)

United Kingdom/Europe
Investor and Media Relations
Phil Dexter, St James's Corporate Services
+44 20 7499 3916 (office)
+44 779 863 4398

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DRDGOLD is the world’s 9th largest gold producer, with mines in South Africa as well as Australasia, a key target for growth.

The company has a track record of success in extending the lives of older mines safely and profitably. For fiscal year 2004, DRDGOLD produced 905 000 ounces of gold, up from under 100 000 ounces a year in 1997, when current operations were amalgamated.

DRDGOLD has primary listings on the Johannesburg (JSE:DRD) and Australian (ASX:DRD) stock exchanges and secondary listings on NASDAQ (DROOY), the London and Port Moresby stock exchanges and the Paris and Brussels Bourses. Its shares are also traded on the regulated unofficial market of the Frankfurt Stock Exchange and the Berlin OTC Market.
For more information, please visit www.drdgold.com

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Some of the information in this media release may contain projections or other forward looking statements regarding future events or other future financial performance. We wish to caution you that these statements are only projections and those actual events or results may differ materially. In reviewing, please refer to the documents that we file from time to time with the SEC, specifically to our annual report on Form 20-F. These documents contain and identify important factors that could cause the actual results to differ materially from those contained in our projections or forward looking statements, including such risks as difficulties in being a marginal producer of gold, changes and reliability of ore reserve estimates, gold price volatility, currency fluctuations, problems in the integration of operations, exploration and mining risks and a variety of risks described in our annual report on Form 20-F. We undertake no obligation to publicly release results of any of these forward looking statements which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unexpected results.

Cautionary note to US investors: the United States Securities and Exchange Commission 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 use the term "resources" (which includes "measured", "indicated", and "inferred") in our media releases, which the SEC guidelines strictly prohibit us from including in our filing with the SEC. US investors are urged to consider closely the disclosure in our Form 20-F, File No. 0-28800, available from us at 45 Empire Road, Parktown, Johannesburg, 2193, South Africa. You can also obtain this form from the SEC website at http://www.sec.gov/edgar.shtml